|
THE SENATE |
S.B. NO. |
718 |
|
TWENTY-SEVENTH LEGISLATURE, 2013 |
S.D. 1 |
|
|
STATE OF HAWAII |
Proposed |
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
RELATING TO ECONOMIC DEVELOPMENT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
PART I
SECTION 1. The legislature finds that the State has a public interest in diversifying its economy and promoting the development of high-growth, entrepreneurial businesses. Job creation is at the top of every state's policy agenda. Recent reports from the National Governors Association have highlighted the importance of fostering an entrepreneurial environment and supporting high-growth businesses as a proven approach to creating high wage jobs.
Successful economic development outcomes in other states have demonstrated the effectiveness of a comprehensive state-level program establishing an entrepreneurial ecosystem that fosters entrepreneurialism, commercialization, and business formation capabilities needed by high-growth businesses. This comprehensive program must have input and support from the key stakeholders in the entrepreneurial ecosystem: private industry, investors, universities, and government. Finally, this comprehensive program must have sufficient resources to provide the pace and scale of investment needed to make it effective.
The purpose of this part is to enable the Hawaii strategic development corporation to implement an investment program, the HI growth initiative, that will be used to establish an innovation ecosystem that supports entrepreneurial high-growth businesses and creates high-wage jobs through research commercialization, entrepreneur mentoring, and the mobilization of startup investment capital.
SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $10,000,000 or so much thereof as may be necessary for fiscal year 2013-2014 and the same sum or so much thereof as may be necessary for fiscal year 2014-2015 to be deposited into the Hawaii strategic development corporation revolving fund.
SECTION 3. There is appropriated out of the Hawaii strategic development corporation revolving fund the sum of $10,000,000 or so much thereof as may be necessary for fiscal year 2013-2014 and the same amount or so much thereof as may be necessary for fiscal year 2014-2015 to implement the HI growth initiative; provided that $500,000 or so much thereof as may be necessary in each fiscal year shall be expended for program development, program management, and oversight of program awardees.
The sums appropriated shall be expended by the Hawaii
strategic development corporation for the purposes of this part.
SECTION 4. The Hawaii strategic development corporation shall submit an annual report on the activities and expenditures of the HI growth initiative to the legislature no later than twenty days prior to the convening of each regular session, beginning with the regular session of 2014.
PART II
SECTION 5. Section 26-18, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) The following are placed in the department of business, economic development, and tourism for administrative purposes as defined by section 26-35: Aloha Tower development corporation, Hawaii community development authority, Hawaii housing finance and development corporation, high technology development corporation, land use commission, natural energy laboratory of Hawaii authority, and any other boards and commissions as shall be provided by law.
The department of business, economic development, and tourism may develop, enter into, and implement inter-agency working agreements with the agencies, boards, and commissions subject to this subsection and chapter 201 to coordinate resources, eliminate unnecessary duplication, and effectuate the purposes of this section and chapter 201 without the parties entering into a memorandum of agreement or memorandum of understanding.
The department of business, economic development, and tourism shall be empowered to establish, modify, or abolish statistical boundaries for cities, towns, or villages in the State and shall publish, as expeditiously as possible, an up-to-date list of cities, towns, and villages after changes to statistical boundaries have been made."
PART III
SECTION 6. New statutory material is underscored.
SECTION 7. This Act shall take effect upon its approval; provided that part I of this Act shall take effect on July 1, 2013.
Report Title:
Hawaii Strategic Development Corporation; HI Growth Initiative; Department of Business, Economic Development, and Tourism; Inter-Agency Agreements
Description:
Appropriates funds to the Hawaii strategic development Corporation to establish the HI growth initiative, an investment program to develop an ecosystem to support high-growth entrepreneurial companies in the State. Authorizes the department of business, economic development, and tourism to develop, enter into, and implement inter-agency agreements with agencies, boards, and commissions attached to the department of business, economic development, and tourism without the parties entering into a memorandum of agreement or memorandum of understanding. (Proposed SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.