STAND. COM. REP. NO. 783

Honolulu, Hawaii

RE:    S.B. No. 763

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B. No. 763 entitled:

"A BILL FOR AN ACT RELATING TO THE HIGH TECHNOLOGY DEVELOPMENT CORPORATION,"

begs leave to report as follows:

     The purpose and intent of this measure is to appropriate funds to the High Technology Development Corporation so its Small Business Innovation Research Program can support continued innovation in the State.

     Your Committee received written comments in support of this measure from the County of Kauai; Maui Chamber of Commerce; Chamber of Commerce Hawaii; Spectrum Photonics; High Technology Development Corporation; Studio Kinection, Inc.; Hawaii Evolutionary Development, LLC; 3SRM, Inc.; HNu Photonics; Experiad Solutions; Navatek; Kapalya, Inc.; and one individual.

     Your Committee finds that the High Technology Development Corporation is a key state agency in developing and supporting the innovation industry in the State.  Your Committee notes that the Corporation's Small Business Innovation Research Program is a competitive program that helps small businesses grow and succeed by awarding grants for research and development.  Your Committee believes that the program's federal grant matching system is one of the key components in diversifying and accelerating innovation and the economy of the State.

     Your Committee has amended this measure by:

(1)  Changing the amount appropriated from $2,000,000 to an unspecified amount; and

(2)  Changing the effective date to July 1, 2050,

to facilitate further discussion on the measure.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 763, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 763, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

________________________________

JILL N. TOKUDA, Chair