STAND. COM. REP. NO.  1330-08

Honolulu, Hawaii

                , 2008

RE:   S.B. No. 2394

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Economic Development & Business Concerns, to which was referred S.B. No. 2394 entitled:

"A BILL FOR AN ACT RELATING TO HIGH TECHNOLOGY,"

begs leave to report as follows:

      The purpose of this bill is to help small businesses move their innovative ideas from concept to commercialization by removing the $25,000 cap on matching grants to businesses awarded funds by the federal Small Business Innovation Research and Small Business Technology Transfer programs.

     Prior to the hearing on this measure your Committee made available on the Legislature's website, a proposed H.D. 1 that replaces the substance of this bill with provisions that amend Act 150, Session Laws of Hawaii 2007.  The amendments transfer funding that was appropriated for a life sciences technology incubator in the Kakaako district of Honolulu, to the planning of a high technology park on Oahu and the development of a technology master plan for the State of Hawaii.

     Testimony in support of the proposed H.D. 1 was submitted by the Department of Business, Economic Development, and Tourism and the High Technology Development Corporation.

     Your Committee finds that the life sciences technology incubator is no longer a viable project, however there continues to be a need for facilities that will support the growth of Hawaii's high technology industry.  Accordingly, your Committee has amended this measure by replacing its substance with that of the proposed H.D. 1.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2394, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2394, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business Concerns,

____________________________

KYLE T. YAMASHITA, Chair