STAND. COM. REP. NO. 20

Honolulu, Hawaii

RE:    S.B. No. 318

       S.D. 1

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Economic Development and Technology, to which was referred S.B. No. 318 entitled:

"A BILL FOR AN ACT RELATING TO BUSINESS DEVELOPMENT IN HAWAII,"

begs leave to report as follows:

     The purpose and intent of this measure is to amend the law relating to business development in Hawaii.

     Your Committee has amended this measure by deleting its contents and replacing it with language to appropriate funds to the Department of Business, Economic Development, and Tourism to update the 2008 report "Innovation and Technology in Hawaii:  An Economic & Workforce Profile", which demonstrated the increasingly important role that Hawaii's science and technology industries have played in the State's economic growth between 2002-2007, and provided projections and recommendations for future growth.

     Prior to amending this measure, a proposed S.D. 1 was prepared and made available for public review.

     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. 318, as amended herein, and recommends that it be recommitted to the Committee on Economic Development and Technology, in the form attached hereto as S.B. No. 318, S.D. 1, for further consideration.

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

____________________________

CAROL FUKUNAGA, Chair