Bill > HB1612

This bill establishes a goal for Hawaii to be ranked among the top thirty states nationally for business climate by the year 2050, using a specific ranking metric, which is defined as CNBC's America's Top States for Business, a comprehensive assessment of states based on ten categories including economy, infrastructure, workforce, cost of doing business, business friendliness, quality of life, technology and innovation, education, access to capital, and cost of living. The bill sets interim goals, requiring Hawaii to be ranked 45th or better by 2035, 40th or better by 2040, 35th or better by 2045, and finally 30th or better by 2050, with provisions for an alternative ranking metric if the current one is discontinued. The Department of Business, Economic Development, and Tourism is mandated to submit annual reports to the Legislature detailing progress towards these goals and proposing legislative options to improve Hawaii's business environment, and the bill also appropriates funds for research, staffing, and administrative expenses related to these efforts, with an effective date of July 1, 3000.