STAND. COM. REP. NO.  1598-16

Honolulu, Hawaii

                , 2016

RE:   S.B. No. 3110

      S.D. 1

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 3110, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TECHNOLOGY,"

begs leave to report as follows:

The purpose of this measure is to:

     (1)  Extend the lapse date from June 30, 2016, to June 30, 2017, for the $2,000,000 appropriation made to the Department of Business, Economic Development, and Tourism, pursuant to Act 216, Session Laws of Hawaii 2015, to provide grants and loans for Federal Small Business Innovation Research Phases II and III awardees; and

     (2)  Appropriate an unspecified amount to the Department of Business, Economic Development, and Tourism for fiscal year 2016-2017 to provide grants and loans for Federal Small Business Innovation Research Phases II and III awardees. 

The High Technology Development Corporation; Makai Ocean Engineering, Inc.; The Chamber of Commerce Hawaii; Oceanit; Hawaii Fish Company; Kinection; Hawaii Evolutionary Development, LLC; First Commercial Kitchen LLC; Hyperspective; HNu Photonics; and a concerned individual supported this measure.

     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. 3110, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair