STAND. COM. REP. NO. 1045-16
RE: S.B. No. 2819
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Eighth State Legislature
Regular Session of 2016
State of Hawaii
Your Committee on Economic Development & Business, to which was referred S.B. No. 2819 entitled:
"A BILL FOR AN ACT RELATING TO THE HIGH TECHNOLOGY DEVELOPMENT CORPORATION,"
begs leave to report as follows:
The purpose of this measure is to more accurately reflect the mission of the High Technology Development Corporation by changing its name to the Hawaii Technology Development Corporation.
Established in 1983, the High Technology Development Corporation facilitates the development and growth of Hawaii's commercial technology industry as this industry is an important driver in the diversification of Hawaii's economy. However, the rapid advancement of the technology and telecommunications industries, as well as the rapid growth and advancement of the internet and automation, has made the concept once thought of as high technology commonplace. What was once thought of as "high technology" is now simply referred to as "technology." In light of this, your Committee finds that changing the name of the High Technology Development Corporation to the Hawaii Technology Development Corporation will more accurately describe its mission.
As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2819 and recommends that it pass Second Reading and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,
DEREK S.K. KAWAKAMI, Chair