Bill Text: HI HB911 | 2018 | Regular Session | Introduced
Bill Title: Relating To The High Technology Development Corporation.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Engrossed - Dead) 2017-11-30 - Carried over to 2018 Regular Session. [HB911 Detail]
Download: Hawaii-2018-HB911-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
911 |
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TWENTY-NINTH LEGISLATURE, 2017 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the high technology development corporation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 206M, Hawaii Revised Statutes, is amended by adding two new sections to part I to be appropriately designated and to read as follows:
"§206M- High technology equipment loan program. (a) The development corporation shall establish and administer a high technology equipment loan program to allow companies to borrow high technology equipment at a low cost.
(b) The development corporation may purchase or accept high technology equipment and loan that equipment to companies for a fee.
(c) The development corporation may also allow companies to loan their own high technology equipment to other companies through the program in exchange for a fee, from which the development corporation shall retain a commission.
(d) The development corporation shall set reasonable fees and commissions based upon the cost of the loaned equipment and other market factors.
(e) The development corporation may dispose of equipment through sale or otherwise as it deems appropriate, with the approval of the board.
(f) All revenues received pursuant to this section shall be deposited in the high technology equipment loan program special fund established pursuant to section 206M- .
§206M- High technology equipment loan program special fund. (a) There is established in the state treasury a fund to be known as the high technology equipment loan program special fund, into which shall be deposited:
(1) Any appropriations or other funds required to be deposited into the fund by law; and
(2) All moneys, fees, and commissions from users of the high technology equipment loan program.
(b) All moneys in the fund shall be expended by the development corporation for the purposes of the high technology equipment loan program."
SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2017-2018 and the same sum or so much thereof as may be necessary for fiscal year 2018-2019 to be deposited into the high technology equipment loan program special fund.
SECTION 3. There is appropriated out of the high technology equipment loan program special fund the sum of $ or so much thereof as may be necessary for fiscal year 2017-2018 and the same sum or so much thereof as may be necessary for fiscal year 2018-2019 for implementation and administration of the high technology equipment loan program.
The sums appropriated shall be expended by the high technology development corporation for the purposes of this Act.
SECTION 4. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2017.
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INTRODUCED BY: |
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Report Title:
High Technology Development Corporation; High Technology Equipment Loan Program
Description:
Establishes a program for companies to borrow and loan high technology equipment to be administered by HTDC.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
