THE SENATE	S.C.R. NO.	212
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

SENATE CONCURRENT

RESOLUTION

requesting the Office of the Auditor to perform a management and financial audit of the High Technology Development Corporation, the Hawaii Strategic Development Corporation, and the programs and entities under their respective purviews.

     WHEREAS, the High Technology Development Corporation was established by Act 152, Session Laws of Hawaii 1983, to demonstrate Hawaii's commitment to the development of high technology enterprise, and codified in chapter 206M, Hawaii Revised Statutes; and

     WHEREAS, the High Technology Innovation Corporation was established as a public, not-for-profit organization under section 501(c)(3) of the Internal Revenue Code of 1986, as amended, by Act 173, Session Laws of Hawaii 2005, and codified in chapter 206M, Hawaii Revised Statutes; and

     WHEREAS, the Hawaii Strategic Development Corporation was established by Act 110, Session Laws of Hawaii 1990, to encourage and foster the development of small and emerging businesses and economic diversification, and codified in chapter 211F, Hawaii Revised Statutes; and

     WHEREAS, the State Private Investment Fund was established by Act 215, Session Laws of Hawaii 2004, to mobilize equity and near-equity capital for investment, and codified in chapter 211G, Hawaii Revised Statutes, as part of the mission of the Hawaii Strategic Development Corporation; and

     WHEREAS, the High Technology Development Corporation and the Hawaii Strategic Development Corporation, and the programs and entities under their respective purviews have a considerable impact on both Hawaii's overall economy and the fiscal resources of state government; and

     WHEREAS, a management and financial audit would serve to improve the High Technology Development Corporation and the Hawaii Strategic Development Corporation, and the programs and entities under their respective purviews, and ensure public confidence in the ability of these agencies to carry out their missions; now, therefore,

     BE IT RESOLVED by the Senate of the Twenty-fourth Legislature of the State of Hawaii, Regular Session of 2008, the House of Representatives concurring, that the Office of the Auditor is requested to perform a management and financial audit of the High Technology Development Corporation, the Hawaii Strategic Development Corporation, and the programs and entities under their respective purviews; and

     BE IT FURTHER RESOLVED that the Office of the Auditor is requested to report its findings and recommendations to the Legislature no later than twenty days prior to the convening of the Regular Session of 2009; and

     BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Executive Director of the High Technology Development Corporation, the President of the Hawaii Strategic Development Corporation, and the Auditor.

OFFERED BY:

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Report Title: 

HTDC, HSCD, Auditor; Management and Financial Audit