STAND. COM. REP. NO. 1347
RE: H.B. No. 909
Honorable Ronald D. Kouchi
President of the Senate
Twenty-Ninth State Legislature
Regular Session of 2017
State of Hawaii
Your Committee on Ways and Means, to which was referred H.B. No. 909, H.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII,"
begs leave to report as follows:
The purpose and intent of this measure is to establish the Center for Commercialization at the University of Hawaii.
(1) Establishes the Center for Commercialization to make commercial use of the intellectual property generated by the University of Hawaii;
(2) Requires the Director of the Center for Commercialization to submit annual reports to the Legislature prior to the regular sessions from 2018 to 2021; and
(3) Appropriates funds to establish and implement the Center for Commercialization at the University of Hawaii.
Your Committee received written comments in support of this measure from the University of Hawaii, Hawaii Business Roundtable, Hawaii Venture Capital Association, The Chamber of Commerce Hawaii, XLR8UH, Sultan Ventures, and two individuals.
Your Committee finds that over the next decade, the University of Hawaii intends to aggressively commercialize the intellectual property generated by its research. Your Committee further finds that a Center for Commercialization will help achieve the University's commercialization goals by providing leadership in the development of new strategic initiatives and efficiencies for commercialization projects.
Your Committee has amended this measure by making a technical nonsubstantive amendment for purposes of style and consistency.
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 H.B. No. 909, H.D. 2, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 909, H.D. 2, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
JILL N. TOKUDA, Chair