STAND. COM. REP. NO. 974-26

Honolulu, Hawaii

, 2026

RE: H.B. No. 2545

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. 2545, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII TECHNOLOGY DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Require and appropriate funds for the Hawaii Technology Development Corporation to establish the Small Business Innovation Research Matching Program;

(2) Require the Hawaii Technology Development Corporation, in collaboration with the Department of Education, to establish a STEM education outreach program;

(3) Require and appropriate funds for the Hawaii Technology Development Corporation to develop an economic diversification strategic plan; and

(4) Appropriate funds for economic diversification and defense ecosystem development.

Your Committee received testimony in support of this measure from the Department of Education; Department of Business, Economic Development, and Tourism; Hawaiʻi Technology Development Corporation; Chamber of Commerce Hawaiʻi; Hawaiʻi Food Industry Association; Oceanit; Small Kine Farm; WaiHome LLC; Ai.Fish; Blue Startups; Nāmaka Algae, Inc.; Black Sand Solutions LLC; NeuroMuse LLC; Simonpietri Enterprises LLC; and four individuals.

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. 2545, 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