STAND. COM. REP. NO. 1444-18

Honolulu, Hawaii

, 2018

RE: S.B. No. 2904

S.D. 1

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 S.B. No. 2904, S.D. 1, 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 continue to diversify Hawaii's economy and assist Hawaii's small businesses in advancing technology and developing new products by appropriating funds to support and sustain the Small Business Innovation Research Program operated by the Hawaii Technology Development Corporation.

The Chamber of Commerce Hawaii, Hawaii Food Industry Association, Oceanit, Makai Ocean Engineering, Inc., Smart Yields, Ag Matters, Marine Genetics, AlgorithmHub, Inc., Referentia Systems Incorporated, Spectrum Photonics, Hawaii Evolutionary Development, LLC, Nalu Scientific, LLC, Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii, and a concerned individual testified in support of this measure. The Hawaii Technology Development Corporation testified in support of the intent of this measure.

Your Committee has amended this measure by changing its effective date to July 2, 2050, to facilitate further discussion.

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 S.B. No. 2904, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2904, S.D. 1, 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