STAND. COM. REP. NO. 3580

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 2556

       H.D. 1

       S.D. 2

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 2556, H.D. 1, S.D. 1, entitled:

 

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

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to establish a program to provide financial and other assistance to Hawaii-based small businesses to optimize research and development and support commercialization activities.

 

     Your Committee received written comments in support of this measure from Oceanit Laboratories, Inc.; Chamber of Commerce Hawaii; Navatek; Makai Ocean Engineering, Inc.; Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii; and five individuals.

 

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

 

     Your Committee finds that this measure provides financial support for companies to accelerate commercialization of products, which in turn will create high-paying jobs and economic growth for the State.

 

     Your Committee has amended this measure by:

 

(1)  Clarifying that the financial support provided by the research and development program shall be subject to available funds and for qualified Hawaii-based small businesses; and

 

(2)  Making technical nonsubstantive amendments for the purposes of clarity, consistency, and style.

 

     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. 2556, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2556, H.D. 1, S.D. 2.

 

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

 

 

 

________________________________

DONOVAN M. DELA CRUZ, Chair