STAND. COM. REP. NO.  756

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 847

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 847, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO UNIVERSITY OF HAWAII RESEARCH,"

begs leave to report as follows:

The purpose of this measure is to provide the University of Hawaii with express statutory authority to create, promote, and participate in new economic enterprises and expand workforce opportunities through the commercialization of inventions and discoveries generated by or at the University.

The University of Hawaii, High Technology Development Corporation, The Chamber of Commerce Hawaii, Hawaii Venture Capital Association, XLR8UH, and Sultan Ventures testified in support of this measure.  Common Cause Hawaii testified in opposition to this measure.  The Hawaii State Ethics Commission, State Procurement Office, and Office of Information Practices provided comments.

     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 H.B. No. 847, 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