Bill Text: HI HB858 | 2013 | Regular Session | Amended

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Bill Title: Hawaii Strategic Development Corporation; HI Growth Initiative ($)

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2013-07-09 - Act 274, 7/9/2013 (Gov. Msg. No. 1380). [HB858 Detail]

Download: Hawaii-2013-HB858-Amended.html

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STAND. COM. REP. NO. 978

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 858

       H.D. 1

 

 

 

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

 

Madam:

 

     Your Committee on Economic Development, Government Operations and Housing, to which was referred H.B. No. 858, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE HI GROWTH INITIATIVE,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to make an appropriation in an unspecified amount for fiscal years 2013-2014 and 2014-2015 to the Hawaii Strategic Development Corporation to implement an investment program, the HI Growth Initiative, to diversify and strengthen the local economy.

 

     Your Committee received testimony in support of this measure from the Governor; Department of Business, Economic Development, and Tourism; Hawaii Strategic Development Corporation; High Technology Development Corporation; Akamai Capital; Aku Shaper; BizGym; Blue Startups; Cardax Pharmaceuticals; Enterprise Honolulu; Hawaii Angels; Hawaii Food Industry Association; Hawaii Innovation Alliance; Hawaii Venture Capital Association; HiBEAM; Hyperspective Studios; Internet Society; Lady Ease DBS Ease Collection; The Queen's Health Systems; Startup Capital Ventures; Startup HUI; Thurstcysle Enterprises, LLC; Waikiki Aloe; What Would MacGyver Do? Productions; ZenMoney; and five individuals.  Your Committee received testimony in opposition to this measure from one individual.

 

     Your Committee finds that Hawaii needs new strategies to develop long-term economic growth and high-wage jobs.  In cooperation with the private sector, the HI Growth Initiative will help to develop high growth businesses by focusing on research commercialization, entrepreneur mentoring, and start-up capital mobilization.

 

     As affirmed by the record of votes of the members of your Committee on Economic Development, Government Operations and Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 858, H.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Economic Development, Government Operations and Housing,

 

		____________________________ DONOVAN M. DELA CRUZ, Chair