STAND. COM. REP. NO. 2972

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2443
                                        H.D. 2




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committees on Education and Technology and Economic
Development, to which was referred H.B. No. 2443, H.D. 2,
entitled: 

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

beg leave to report as follows:

     The purpose of this measure is to help facilitate the
development of a technology industry in Hawaii by making special
purpose revenue bonds available to private developers to build
the infrastructure necessary for technology companies and for
specific types of high technology activities.

     This measure amends chapter 206M, Hawaii Revised Statutes,
to authorize the High Technology Development Corporation to issue
special purpose revenue bonds and special facility revenue bonds
to develop high technology projects.

     Testimony in support of this measure was received from the
Governor's Special Advisor on Technology Development, the
Department of Budget and Finance, the High Technology Development
Corporation, and the Hawaii Technology Trade Association.

     Your Committees find that high technology is a key component
to the evolution of Hawaii's economy and that a critical step in
developing a strong technology industry in Hawaii is building the
infrastructure needed to support the expansion of local
technology companies.

 
a                                                     HB2443 HD2
                                   STAND. COM. REP. NO. 2972
                                   Page 2


     As affirmed by the records of votes of the members of your
Committees on Education and Technology and Economic Development
that are attached to this report, your Committees are in accord
with the intent and purpose of H.B. No. 2443, H.D. 2, and
recommend that it pass Second Reading and be referred to the
Committee on Ways and Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committees on Education and
                                   Technology and Economic
                                   Development,



_____________________________      ______________________________
LORRAINE R. INOUYE, Chair          DAVID Y. IGE, Chair

 
a                                                     HB2443 HD2