STAND. COM. REP. NO. 518

Honolulu, Hawaii

, 2019

RE: H.B. No. 623

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Economic Development & Business, to which was referred H.B. No. 623 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:

(1) Repeal Act 67, Session Laws of Hawaii 2018, which established the alternative energy research and development program and provided matching grants by the Hawaii Technology Development Corporation (HTDC) to qualified businesses; and

(2) Repeal Act 141, Session Laws of Hawaii 2018, relating to the Research and Development Program in HTDC.

HTDC commented on this measure.

Your Committee notes that this measure is a part of a suite of measures involving the future of HTDC and as such, your Committee would like to pass this measure on for consideration by the Committee on Finance.

Your Committee has amended this measure by:

(1) Changing its effective date to July 1, 2112; and

(2) Making technical, nonsubstantive amendments for clarity, consistency, and style.

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. 623, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 623, 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,

____________________________

ANGUS L.K. McKELVEY, Chair