STAND. COM. REP. NO.  769

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 975

      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. 975, 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 attract more foreign direct investment and increase Hawaii exports abroad by:

     (1)  Creating an Advisory Council for Global Economic Competitiveness to advise the Director of Business, Economic Development, and Tourism and other state officials on policy additions and changes; and

     (2)  Appropriating funds for the establishment and administration of the Advisory Council for Global Economic Competitiveness.

The Kona-Kohala Chamber of Commerce supported this measure.  The Department of Business, Economic Development, and Tourism 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. 975, 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