HI HB975

Creates the Advisory Council for Global Economic Competitiveness within the Department of Business, Economic Development, and Tourism to advise state officials on policies to attract foreign direct investment and increase Hawaii exports.

Council composition includes at least 15 members: the governor and DBEDT director as ex officio members, executives from foreign-headquartered and U.S.-based businesses operating in Hawaii, economic development organization representatives, higher education faculty, and an economist, appointed by the governor for two-year terms.

Council shall meet at least three times annually, be co-chaired by the DBEDT director and an elected council member, and submit annual reports to the legislature identifying economic sectors for growth, needed state-level policies, and recommendations for regulatory reform.

Annual reports must address infrastructure needs, workforce training, education reforms, licensing and permitting support, site selection assistance, financing, state export enhancement, and foreign direct investment attraction policies.

Appropriates unspecified funds from general revenues for fiscal years 2017-2018 and 2018-2019 for the council's establishment and administration, with the act taking effect July 1, 2038.