Thoughts on Supporting This...?

[viviansuet]

HOUSE OF REPRESENTATIVES
H.B. NO.2669
TWENTY-EIGHTH LEGISLATURE, 2016 H.D. 1
STATE OF HAWAII
A BILL FOR AN ACT
RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST TRUTAG TECHNOLOGIES, INC.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds and declares that the issuance of special purpose revenue bonds under this Act is in the public interest and for the public health, safety, and general welfare.
SECTION 2. Pursuant to part III, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $ , in one or more series, for the purpose of assisting TruTag Technologies, Inc., a Hawaii corporation, to finance or refinance the planning, construction, improvement, and equipping of its manufacturing facilities in the State. The legislature hereby finds and determines that the planning, construction, improvement, and equipping of the manufacturing facilities constitute a project as defined in part III, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to the manufacturing enterprise.
SECTION 3. The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part III, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist manufacturing enterprises.
SECTION 4. The department of budget and finance is authorized, from time to time, including times subsequent to June 30, 2021, to issue special purpose revenue bonds in whatever principal amounts the department shall determine to be necessary to refund the special purpose revenue bonds authorized in section 2 and to refund special purpose revenue bonds authorized in this section, regardless of whether the outstanding special purpose revenue bonds or refunding special purpose revenue bonds have matured or are the subject of redemption or whether the refunding special purpose revenue bonds shall be bonds for the multi-project programs described in section 2. In making this determination, the department shall comply with federal law relating to the exemption from federal income taxation of the interest on bonds of the nature authorized by this section.
SECTION 5. The authorization to issue special purpose revenue bonds under this Act shall lapse on June 30, 2021.
SECTION 6. This Act shall take effect on February 19, 2022.
Report Title:Special Purpose Revenue Bonds; TruTag Technologies, Inc.
Description:
Authorizes the issuance of special purpose revenue bonds for TruTag Technologies, Inc. (HB2669 HD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.

[leilaniguy]

Only one to a customer viv.

[Digital_Hillbilly]

Fascinating and incredibly creepy technologies that company produces, was unaware such a thing exists - as far as the state helping get their manufacturing going here, I hope we get some solid ROI in the form of well paying jobs, they have some large investors but of course will take all the state help they can get - I bet there are some solid links between the senior leaders and state pols (of course 'lol'))

[EightFingers]

It's a poor business model that requires government intervention for survival.

[tada]

I heard on cnbc Hawaii has the highest percent of debt service of all the states.[:0]

[kalakoa]

Does the State actually have "valuable exports" that need "proection against counterfeiting"?

Remember, this is the same State that allows coffee to be labeled "Kona" if it contains a mere 10% actual Kona coffee...

[Jeffhale]

Not too sure about this as, it appears that Tru-tag is simply using quantum dots. Accordingly, non cadmium or metal quantum dots, may be safe for consumption. If you consider a 3 point crystal 100th the thickness of a human hair safe enough to run through you system and not cut open a cell or somtin. . Get clogged up somewhere and become effectively similar to what asbestos does. Asbestos is a problem because once inside of your system, there' no biologic ability to break the crystals down so, your body encapsulates it and that biologic material can invite cancerous disease. Or something to this effect, it's been way to many years since I learned what's going on, so, too paraphrase, in essence, that's what's happening. Accordingly, 25 years ago whenever I spoke to a head in wash DC, he said; the only reason fiber glass is not the exact same asbestos problem is because, its use is not as old and proven as asbestos is, yet basically, ya can't break down glass in your body and or lungs exactly the same as asbestos.. ;(

But why Hawaii or any state should, would or could hand out cash to any company anywhere seems a waste of funds because, there's plenty who are attempting to apply quantum dots for this application all across the globe.

Is a nano dot, small enough? Who knows but, for sure it's a crystal, and it ain't gonna break down too, which is subject to the same biological encapsulation. ;0 Moreover state substituting this, may turn into a liability.

"TruTag microtags are secure, optically-encoded" Currently the top use for quantum dots are TV screens. Tru-tags's description hints, it's what they're using. Quantum dot tech current possibilities also includes unique micro, quantum identification and solar cell substitutes. The industry hopes for many openings for the uses too.

I've been following this company (linked below) for a while. perhaps you can get an idea of why, personally, I do not think state funds are appropriate : http://www.qmcdots.com/ Moreover, sounds like there's some pay-o-la involved inside of Hawaiian state Legislature.

Quantum manufacturing corp has ,in recent times, indicated, after expecting Q-dot tags to be a big money maker, all but abandoned their R and R for this. They would not do this unless they're expecting failure of some uncertain, undisclosed type.(public companies never kiss and tell negatives) Legislative pay-o-la? perhaps. I.E. if you're not watching where they'll pump you money, who will.

[pahoated]

Yeah, this is strange all the way around, there is always some zinger in the bills that not only survive, but get rushed through.

Hawaii state does investment in private businesses, more like a socialist subsidy model, acting as a venture capitalist. This is the state trying to find more business than just tourism. The way the state is trying to do venture capitalism essentially guarantees failure. They try to protect themselves by requiring the grant business provide at least 50%. This is ambiguous and no real indicator the business idea is sound.

This one is really odd, a high tech business coming up with a way to barcode everything on nanodots. Surprising, and not, that such a high tech business is trying to operate off Oahu. The technology isn't problematic. It is the implementation, whether it would work at all. Sure, nanocode a candybar, track it but then add everything else ingested would have a barcode. It's doubtful any tracker would be able to read thousands of these codes swirling around in the blood stream until they dissolve.

The state needs to do a reboot on these high tech gambles as another possible source of outside revenue. The technology needs to fit Hawaii, instead of the other way around. The other thing is take a slap to the face and wake up that tourism is the main source of outside income, focus on more people visiting, less on giving other people reasons to try to live here.

"Aloha also means goodbye. Aloha!"

[kalakoa]

This is the state trying to find more business than just tourism.

...or large telescopes.

a high tech business coming up with a way to barcode everything on nanodots

Seed-to-sale tracking for medical marijuana.

tourism is the main source of outside income, focus on more people visiting

As long as we're not retrofitting Kona for international flights, let's be sure to not talk about that dengue fever thing, and definitely not build another golf course.

http://www.hawaiitribune-herald.com/news...lf-courses

Punchline: revoke the permit for the courses issued in 1991

[BillyB]

FYI http://www.trutags.com/ This looks very interesting and worthwhile.

Special purpose revenue bonds are not a liability for the State. The interest and principle are solely the responsibility of the entity named in the bond. The advantage to the company is that the interest payments are usually tax free to the bond holder,( both federal and State for Hawaii residents). This type of bond allows the borrower to pay a lower rate of interest than they would pay with taxable corporate bonds. However the rate is not as low as what the State pays on general obligation bonds where the State itself is responsible for interest and principle.
There are numerous cases where the borrower has gone broke and the bond holders get stuck. (Think nuclear reactors) The State is not liable for their loss.

The Federal Government misses out on some income tax, but Hawaii supports a reasonable venture with attractive possibilities. Whats not to support?