STAND. COM. REP. NO.  768

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 973

      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. 973, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

The purpose of this measure is to support science, technology, engineering, and mathematics-based research and development in the State by establishing a Research and Technology Grant Program within the High Technology Development Corporation (HTDC) to award grants to qualified research and technology companies and appropriating funds for this purpose.

The Chamber of Commerce Hawaii, Navatek, Kona-Kohala Chamber of Commerce, and several individuals testified in support of this measure.  HTDC and the State Procurement Office provided comments on 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 H.B. No. 973, 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