STAND. COM. REP. NO. 394

Honolulu, Hawaii

RE:    S.B. No. 772

       S.D. 1

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Madam:

     Your Committee on Economic Development and Technology, to which was referred S.B. No. 772 entitled:

"A BILL FOR AN ACT RELATING TO HAWAII'S ECONOMY,"

begs leave to report as follows:

     The purpose of this measure is to require the Legislative Reference Bureau to conduct diagnostic assessment of the State's economy.

     Comments on this measure were submitted by the Department of Business, Economic Development, and Tourism and the Legislative Reference Bureau.  Written testimony presented to your Committee may be reviewed on the Legislature's website.

     Your Committee finds that due to the seriousness of the current economic conditions facing our State, a diagnostic assessment of the State's economy by outside experts will enable state government and business industry leaders to formulate a strategy for the State to respond in the most successful manner.  Your Committee also finds that a diagnostic assessment of the state economy will not only help the State in overcoming the current economic challenges but will also provide insight into how the State of Hawaii can participate in new emerging industries and participate in the global economy.

     Your Committee has amended this measure by:

     (1)  Deleting the amount of the appropriation that was to be expended by the Legislative Reference Bureau in order to contract with outside experts to conduct the diagnostic assessment of the state economy; and

     (2)  Changing the effective to July 1, 2050, to promote further discussion on the scope and feasibility of the economic diagnostic assessment.

     As affirmed by the record of votes of the members of your Committee on Economic Development and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 772, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 772, S.D. 1, and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Economic Development and Technology,

____________________________

CAROL FUKUNAGA, Chair