STAND. COM. REP. NO. 946

Honolulu, Hawaii

RE: S.B. No. 995

S.D. 2

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 995, S.D. 1, 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 promote technology research and development in the State.

More specifically, this measure:

(1) Requires the Hawaii Technology Development Corporation to adopt rules requiring a technology research and development grant recipient to reimburse the State for the grant if, within five years, it relocates its principal place of business out of State; and

(2) Appropriates moneys into and out of the research and development special fund for the Corporation's research and development program.

Your Committee received written comments in support of this measure from the Hawaii Technology Development Corporation; Hawaii Farm Bureau; Oceanit Laboratories, Inc.; Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii; Makai Ocean Engineering, Inc.; and one individual.

Your Committee finds that encouraging grant recipients to maintain principal places of business in the State will ensure that the State benefits from awarding these grants.

Your Committee has amended this measure by:

(1) Changing the appropriations from $1,000,000 to unspecified amounts;

(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. 995, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 995, S.D. 2.

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

________________________________

DONOVAN M. DELA CRUZ, Chair