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Tech Bills Pass on Last Days of Hawaii Legislative Session
A number of bills to strengthen Hawaii's science and technology standing were passed during the final days of the legislative session.
The High Technology Development Corporation has been empowered to issue $100 million in special purpose revenue bonds for the development of high-technology facilities and office space under an act Governor Ben Cayetano signed during the last week of April. Effective immediately, the act allows bond monies to be used as incentive or inducement financing to attract technology companies to the state as the interest rates on the bonds are lower than current bank loan rates. A copy of the act is available at: http://www.capitol.hawaii.gov/sessioncurrent/bills/hb2443_hd2_.htm
Last Tuesday, the last day of the regular session for the Hawaii legislature, several additional technology bills passed. According to the Honolulu Star-Bulletin, Governor Cayetano is expected to sign these bills as well.
Among the bills are:
The New Economy Technology Scholarship Act (S.B. 2420 CD 1), a five-year pilot scholarship program for Hawaii students to pursue higher education and training in science and technology fields. The program, which will be administered by the Department of Business, Economic Development and Tourism, received $200,000 in FY 2000-2001 for operating costs and scholarship grants. S.B. 2779 CD1 expands the state’s enterprise zone (EZ) law to include businesses engaged in research, development, biotechnology, and companies involved in the repair of assistive technology equipment as eligible for the EZ tax credits and benefits.
The Honolulu Star-Bulletin also reported that language permitting the consolidation of the state’s technology programs was contained in one of the several bills passed at the end of the session. The original consolidation bill languished in the Senate earlier this year. (See the July 9, 1999 issue of the Digest for background on the proposal. -- http://www.ssti.org/Digest/1999/070999.htm) Programs affected by the merger include the High Technology Development Corporation and the Natural Energy Lab.