Bill Text: HI HB235 | 2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Sustainable Business Limited Liability Companies

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Enrolled - Dead) 2012-04-13 - (H) Received notice of all Senate conferees being discharged (Sen. Com. No. 747). [HB235 Detail]

Download: Hawaii-2012-HB235-Amended.html

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STAND. COM. REP. NO.  693

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 235

      H.D. 2

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 235, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO LIMITED LIABILITY COMPANIES,"

 

begs leave to report as follows:

 

     The purpose of this bill is to:

 

     (1)  Allow a limited liability company to be designated as an "ingenuity company" by the Director of Commerce and Consumer Affairs; and

 

     (2)  Require an ingenuity company to use its right to exclude, conferred by patents in which it has an interest, for certain public purposes.

 

     Several concerned individuals supported this bill.  The Commissioner of Securities of the Business Registration Division of the Department of Commerce and Consumer Affairs opposed this bill.

 

     Your Committee has amended this measure by:

 

     (1)  Deleting existing provisions relating to the public purpose of strengthening labor rights and, instead, establishing the public purpose of upholding fair labor standards;

 

     (2)  Changing its effective date to July 1, 2030, to encourage further discussion; and

 

     (3)  Making technical nonsubstantive amendments for style, clarity, and consistency.

 

     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. 235, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 235, H.D. 2.

 

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

 

 

		____________________________ MARCUS R. OSHIRO, Chair