STAND. COM. REP. NO.  6-18

Honolulu, Hawaii

                , 2018

RE:   H.B. No. 1961

      H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

     Your Committee on Economic Development & Business, to which was referred H.B. No. 1961 entitled:

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

begs leave to report as follows:

The purpose of this measure is to stimulate and diversify Hawaii's economy through continued support of business innovation by providing funds to the Hawaii Technology Development Corporation for the continuation of business accelerator programs.

The Hawaii Technology Development Corporation, Hawaii Strategic Development Corporation, The Chamber of Commerce Hawaii, Blue Startups, Oahu County Committee Legislative Priorities Committee of the Democratic Party of Hawaii, Hawaii Farm Bureau, Global Virtual Studio Transmedia Accelerator, Global Net Productions, Kona Snow Pictures, Elemental Excelerator, XLR8UH, GTA Development Fund, and two concerned individuals testified in support of this measure.

     Your Committee has amended this measure by changing its effective date to July 1, 2112.

     Should the Committee on Finance deliberate on this measure further, your Committee on Economic Development and Business respectfully requests that it consider appropriating $1,500,000 to support the continuation of business accelerator programs.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1961, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1961, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

____________________________

CINDY EVANS, Chair