STAND. COM. REP. NO. 398

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 767

       S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sir:

 

     Your Committee on Economic Development, Tourism, and Technology, to which was referred S.B. No. 767 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 establish the High-Growth Grant Program within the Department of Business, Economic Development, and Tourism to assist qualified businesses by providing grants for specific business development purposes.

 

     Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism; High Technology Development Corporation; Chamber of Commerce Hawaii; Maui Chamber of Commerce; and Hawaii Farm Bureau.  Your Committee received comments on this measure from the Department of Budget and Finance.

 

     Your Committee finds that diversifying the economy is critical to the future of the State.  Your Committee further finds that the grants provided by this measure would allow qualified business to expand business operations, improve business productivity, and invest in food safety or quality control programs.

 

     Your Committee has amended this measure by lowering the maximum grant amount under the High-Growth Grant Program from forty percent to twenty percent of the amount a qualified business privately invests in another business.

 

     As affirmed by the record of votes of the members of your Committee on Economic Development, Tourism, and Technology that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 767, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 767, S.D. 1, and be referred to your Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Economic Development, Tourism, and Technology,

 

 

 

________________________________

GLENN WAKAI, Chair