Bill Text: HI SB2389 | 2010 | Regular Session | Amended

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

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Bill Title: University of Hawaii Commercial Enterprises Revolving Fund

Spectrum: Partisan Bill (Democrat 9-0)

Status: (Passed) 2010-04-20 - (S) Act 042, 4/20/2010 (Gov. Msg. No. 500). [SB2389 Detail]

Download: Hawaii-2010-SB2389-Amended.html

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STAND. COM. REP. NO. 2402

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 2389

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 2389 entitled:

 

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII,"

 

begs leave to report as follows:

 

     The purpose of this measure is to allow the University of Hawaii to continue to finance the establishment of Hawaii commercial enterprises beyond June 30, 2011.

 

     Your Committee received comments in support of this measure from the University of Hawaii.  Written comments may be reviewed on the Legislature's website.

 

     Your Committee finds that Act 106, Session Laws of Hawaii 2008, granted the University of Hawaii the flexibility to use university funding from various sources, other than general funds, to finance the establishment of new commercial enterprises.  Your Committee also finds that preserving this flexibility is vital to maintaining a healthy and productive commercial enterprise system at the University.  Currently, the amendment made in Act 106, Session Laws of Hawaii 2008, will be repealed on June 30, 2011.  Your Committee believes that if the University of Hawaii's flexibility to finance the establishment of new commercial enterprises is not continued beyond that date, there will likely be significantly less funding available for the University to take advantage of new or unique commercial opportunities.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2389 and recommends that it pass Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

		____________________________ DONNA MERCADO KIM, Chair