STAND. COM. REP. NO.  1643-08

Honolulu, Hawaii

                , 2008

RE:   S.B. No. 2394

      H.D. 2

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 2394, H.D. 1, entitled:

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

begs leave to report as follows:

     The purpose of this bill is to 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 science and technology master plan for the State of Hawaii.

     The High Technology Development Corporation testified in support of this bill.  The University of Hawaii opposed this measure.  The Department of Business, Economic Development, & Tourism and Hawaii Science & Technology Council offered comments.

     Your Committee has amended this bill by lapsing the $150,000 appropriation made for fiscal year 2007-2008 and increasing the appropriation for fiscal year 2008-2009 by such amount, resulting in a total appropriation of $400,000 for fiscal year 2008-2009.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2394, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2394, H.D. 2.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair