May 11th, 2006

Written Remarks on House Bill 3060, H.D. 1, S.D. 2, C.D. 1

Representative Jon Riki Karamatsu
Floor Remarks
House Bill 3060, H.D. 1, S.D. 2, C.D. 1
May 4, 2006


I rise in support.

The purpose of this bill is to encourage small companies and researchers at nonprofit research institutes to work together in moving laboratory-developed technologies to the marketplace and to foster technology-based economic development.

This measure authorizes the High Technology Development Corporation (HTDC) to provide grants to local businesses that receive a federal Small Business Technology Transfer Program award or grant or apply for a Small Business Innovation Research federal grant or Small Business Technology Transfer Program federal grant. It also appropriates funds to HTDC to increase the funding levels necessary to meet the current needs of the Hawaii Small Business Technology Transfer Grant Program and Phase 0 Competition Assistance Program.

Further, the High Technology Innovation Corporation (HTIC) will be allowed to establish operational bank accounts in out-of-state locations, including foreign denomination accounts, until June 30, 2011. Moreover, HTIC will be exempted from Chapter 36, Hawaii Revised Statutes (HRS), relating to the management of state funds, and Chapter 38, HRS, relating to deposits of public funds.

HTDC and HTIC have played a big role in developing Hawaii's technology and science industries. This bill will help these agencies expand their influential role.

Thank you.

Written Remarks on House Bill 3115, H.D. 2, S.D. 2, C.D. 1

Representative Jon Riki Karamatsu
Floor Remarks
House Bill 3115, H.D. 2, S.D. 2, C.D. 1
May 4, 2006


I rise in support.

The "gas cap" law was created right before I was elected into the Hawaii State House of Representatives in the Fall of 2002. I believe the state government had good intent in creating the law to help the people of Hawaii get fair gas prices, but it did not work. The "cap" on the free market caused unusual behaviors in the petroleum industry such as pricing gas at the ceiling of the "cap" to maximize profits and prepare for bad economic times where they are restricted by the "cap" to recuperate.

Therefore, I support this bill's indefinite suspension of the "gas cap" law. Instead, I believe this measure is heading in the right direction by requiring additional and more pertinent information to be provided by the petroleum industry, thereby providing more transparency in the industry. Transparency will protect the people of Hawaii from unfair gas prices and allow a reasonable profit margin for the industry.

Thank you.