REPORT TITLE:
Approp.; America's Cup


DESCRIPTION:
Appropriates funds to assist the Aloha Racing Foundation and the
department of business, economic development, and tourism to
bring the America's Cup Yacht Race to Hawaii.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                             
THE SENATE                              S.B. NO.           804
TWENTIETH LEGISLATURE, 1999                                     
STATE OF HAWAII                                                 
                                                             
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                   A  BILL  FOR  AN  ACT

MAKING AN APPROPRIATION FOR THE ALOHA RACING ENTRY IN AMERICA'S
   CUP 2000.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The America's Cup Yacht Race is an international
 
 2 sailing competition that is held every three years.  The next
 
 3 race is scheduled for the year 2000 in New Zealand.  This
 
 4 international gathering of elite sailors guarantees the host city
 
 5 an abundance of media exposure and economic prosperity.  The
 
 6 direct and indirect effects of individual teams preparing their
 
 7 challenges around the world bring the same significant impact to
 
 8 their local economies, like Hawaii.
 
 9      The benefits to the local economies can be seen commercially
 
10 through increased awareness for Hawaii as a center for cutting-
 
11 edge developments.  Technological developments in naval
 
12 architecture and structural design, navigational aids and
 
13 instrumentation, oceanography and meterological services, sail
 
14 design and manufacture, marine acoustics and sonar development,
 
15 and information technology communications provide state-of-the-
 
16 art systems to the boats being built here.  Beyond the direct
 
17 impacts of the boat building industry, the syndicate support
 
18 expenditures are channeled into infrastructure support including
 
19 computer hardware and software requirements, security systems, a
 

 
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                                     S.B. NO.           804
                                                        
                                                        

 
 1 wide range of electronic products, not to mention the care and
 
 2 maintenance of the crew and staff of the racing team members,
 
 3 family, and visitors.  Aloha Racing promotes Hawaii-made
 
 4 products, promotes Hawaii to the travel industry, promotes
 
 5 Hawaii's unique maritime heritage and seafaring traditions, and
 
 6 can generate millions of dollars in revenues to the State of
 
 7 Hawaii.
 
 8      The Aloha Racing Foundation is the local organization
 
 9 spearheading the Hawaii America's Cup Team that will be competing
 
10 in New Zealand in 2000.  Aloha Racing is working with the
 
11 department of business, economic development, and tourism, to
 
12 bring the economic prosperity of the America's Cup to Hawaii,
 
13 regardless of whether the America's Cup is won by Hawaii's
 
14 America's Cup Team.  The construction of two boats has started
 
15 and the hiring of a winning skipper and crew is now complete.
 
16 More funds are needed to ensure the completion of construction
 
17 and operational costs that will provide maintenance and upkeep of
 
18 the equipment and training of the winning crew.
 
19      SECTION 2.  There is appropriated out of the general
 
20 revenues of the State of Hawaii the sum of $        , or so much
 
21 thereof as may be necessary for fiscal year 1999-2000, to support
 
22 the Aloha Racing entry in America's Cup 2000 for costs related to
 
23 the preparation and sailing of the Aloha Racing Yacht in
 

 
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                                     S.B. NO.           804
                                                        
                                                        

 
 1 America's Cup 2000.
 
 2      SECTION 3.  The sum appropriated shall be expended by the
 
 3 department of business, economic development, and tourism for the
 
 4 purposes of this Act.
 
 5      SECTION 4.  This Act shall take effect on July 1, 1999.
 
 6 
 
 7                           INTRODUCED BY:  _______________________