STAND. COM. REP. NO. 2866

Honolulu, Hawaii

RE: S.B. No. 2904

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2904 entitled:

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

begs leave to report as follows:

The purpose and intent of this measure is to support and sustain the Small Business Innovation Research Program operated by the Hawaii Technology Development Corporation by appropriating $2,000,000 for the continuance of the Program.

Your Committee received written comments in support of this measure from the Hawaii Technology Development Corporation; Chamber of Commerce Hawaii; Experiad Solutions; Hawaii EvoDevo, Hawaii Fish Company; Hawaii Food Industry Association; Hyperspective Studios, Inc.; Kinection; Makai Ocean Engineering, Inc.; Navatek; Nalu Scientific, LLC; Oceanit Laboratories, Inc.; Spectrum Photonics; and two individuals.

Your Committee finds that the Small Business Innovation Research Program is an important initiative of the State that assists Hawaii's small businesses in advancing technology and developing new products. Your Committee further finds that appropriating funds to the Hawaii Technology Development Corporation to support the Small Business Innovation Research Program is in the public interest.

Your Committee notes that the Hawaii Technology Development Corporation agrees that $2,000,000 is a sufficient appropriation for the Small Business Innovation Research Program as long as it does not replace their priorities requested in the Executive Budget.

Your Committee has amended this measure by:

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

(2) Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and

(3) Making technical nonsubstantive changes for the purposes of clarity, consistency, and style.

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

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

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DONOVAN M. DELA CRUZ, Chair