CONFERENCE COMMITTEE REP. NO. 97-04

Honolulu, Hawaii

, 2004

RE: S.B. No. 2281

S.D. 1

H.D. 1

C.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 2281, S.D. 1, H.D. 1, entitled:

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

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to permit the High Technology Development Corporation to deposit moneys into a private trust account, maintained in a bank or financial institution, that are collected or received for:

(1) Projects under a contract for services; and

(2) The development, management, operation, and maintenance of non High Technology Development Corporation industrial parks, projects, and facilities.

This measure also removes the cap on the High Technology Special Fund.

To allow the High Technology Development Corporation more flexibility, this measure will allow it to establish a private trust account for moneys it collects and receives for projects under a contract for services, as provided in section 206M-3.4. Your Committee on Conference finds that these funds are external to state funds and are a source of funding that helps offset the Corporation's operating and payroll expenses.

Your Committee on Conference further finds that this measure would provide flexibility to the High Technology Development Corporation in managing and supervising a greater number of high technology related projects by removing the limits on the High Technology Special Fund.

Your Committee has amended this measure by changing the effective date so that this measure takes effect upon its approval.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 2281, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 2281, S.D. 1, H.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE HOUSE

ON THE PART OF THE SENATE

____________________________

BRIAN SCHATZ, Co-Chair

____________________________

DAVID Y. IGE, Co-Chair

____________________________

DWIGHT Y. TAKAMINE, Co-Chair

____________________________

CAROL FUKUNAGA, Co-Chair

____________________________

BRIAN T. TANIGUCHI, Co-Chair