STAND. COM. REP. NO. 640

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 767

       S.D. 2

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 767, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO BUSINESS DEVELOPMENT,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to promote diversification of the State's economy by establishing the high-growth grant program to provide grants to qualified businesses for specific business development purposes.

 

     This measure would also establish the high-growth grant program special fund to receive legislative appropriations and make grants under the program.

 

     Your Committee received written comments in support of this measure from the Department of Business, Economic Development, and Tourism, High Technology Development Corporation, Chamber of Commerce Hawaii, and Maui Chamber of Commerce.

 

     Your Committee received written comments on this measure from the Department of Budget and Finance.

 

     Your Committee finds that diversifying the State's economy beyond service-related industries is critical to Hawaii's future.  The high-growth grant program will provide grants to businesses that, for example, export products to expand their operations, improve productivity, and invest in food safety or quality control programs.  Diversifying the State's economy in this fashion will permit Hawaii to compete globally.

 

     Your Committee has amended this measure by changing the effective date to July 1, 2050, to facilitate further discussion on the measure.

 

     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. 767, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 767, S.D. 2.

 

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

 

 

 

________________________________

JILL N. TOKUDA, Chair