STAND. COM. REP. NO. 768-26

Honolulu, Hawaii

, 2026

RE: H.B. No. 1614

H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Madame:

Your Committee on Finance, to which was referred H.B. No. 1614, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Establish the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants; and

(2) Appropriate funds into and out of the Revolving Fund.

Your Committee received testimony in support of this measure from the Hawaiʻi Technology Development Corporation; Chamber of Commerce Hawaii; Hawaiʻi Farm Bureau; Hawaii Food Industry Association; Small Kine Farm; Hidden Gears LLC; Ai.Fish; The Maritime Group; Namaka Algae, Inc.; Black Sand Solutions LLC; Simonpietri Enterprises LLC; NeuroMuse LLC; and Hawaii Ocean Power Solutions.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1614, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

CHRIS TODD, Chair