Bill Text: HI HB999 | 2023 | Regular Session | Introduced
Bill Title: Relating To The Hawaii Technology Development Corporation.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Vetoed) 2023-07-07 - Vetoed on 07-07-23 - Returned from the Governor without approval (Gov. Msg. No. 1370). [HB999 Detail]
Download: Hawaii-2023-HB999-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
999 |
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THIRTY-SECOND LEGISLATURE, 2023 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE HAWAII TECHNOLOGY DEVELOPMENT CORPORATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds
that, in light of the State's ongoing economic recovery from the outbreak of
the coronavirus disease 2019 (COVID-19), the State must accelerate its economic diversification
efforts through substantial, strategic, coordinated investments.
This Act establishes a policy
framework for Hawaii technology development corporation projects that will ensure
economic success. The legislature finds that
the implementation of this framework will not require a significant additional investment
in overhead resources but will require funds for specific projects that are identified
collaboratively by the legislature and the Hawaii technology development corporation. The implementation will also require the establishment
of specific goals that these projects shall address and reports to the legislature
that assess the effectiveness of the projects in meeting those goals.
The legislature finds that
through this Act, the Hawaii technology development corporation will serve as a
facilitative catalyst for innovation in the State and will help to align the State
with the emerging knowledge-based, zero‑emission, and digital global
economy while putting Hawaii on the path toward economic prosperity.
The purpose of this Act is
to promote economic recovery and diversification by:
(1) Establishing state goals for economic growth fueled by innovation and technology;
(2) Appropriating funds to the Hawaii technology
development corporation to implement specific projects that address those goals;
and
(3) Requiring the Hawaii technology development
corporation to submit annual reports to the legislature that summarize:
(A) The progress of projects assigned to the
Hawaii technology development corporation by this Act;
(B) The outcomes of the projects assigned to the
Hawaii technology development corporation, including an assessment of each project's effectiveness
in achieving state goals; and
(C) Any other findings and recommendations, including any
proposed legislation.
SECTION 2. (a) The
legislature declares that the projects for which funds are appropriated pursuant
to sections 4 and 5 of this Act align with one or more of the following goals that
address economic diversification:
(1) Economic diversification through participation
in the digital economy: projects shall address
economic diversification by strengthening Hawaii's participation in the digital
economy, including:
(A) Accessing new markets and market opportunities;
(B) Strengthening business capacity and readiness to participate in
the digital economy;
(C) Retaining and strengthening businesses that
are increasing revenues through the digital economy;
(D) Strengthening digital economy infrastructure including broadband
affordability and coworking facilities; and
(E) Increasing the number of businesses, revenue,
and employees dedicated to the digital economy.
(2) Economic diversification through strengthened trade
activities: projects shall address economic
diversification by strengthening traded activities that redistribute Hawaii's gross
domestic product, including:
(A) Increasing the export of goods manufactured in
the State of Hawaii;
(B) Increasing the export of knowledge-based professional services;
(C) Increasing the value of knowledge-based professional
services through research and development and intellectual property;
(D) Strengthening the post-production capacity for
value-added agriculture and manufacturing; and
(E) Increasing the number of
businesses, revenue, and employees in traded sectors.
(3) Economic diversification through increase in
activity to reduce and mitigate climate change:
projects shall address economic diversification by focusing on activities
at the intersection of technology development and climate change mitigation, including:
(A) Making renewable energy more
affordable;
(B) Retaining and strengthening businesses that
are increasing revenues through solutions to reduce climate
change;
(C) Increasing the export of knowledge-based professional
services related to climate change mitigation; and
(D) Increasing the number of businesses, revenue, and employees in renewable energy sectors.
(b) The Hawaii technology development corporation
shall implement the projects for which funds are appropriated in sections 4 and
5 of this Act for the purpose of meeting the goals described in subsection (a);
provided that the Hawaii technology development corporation may work with any other state or county agency for the implementation
of the assigned projects.
(c) No later than twenty days prior to the convening
of the regular sessions of 2024, 2025, and 2026, the Hawaii technology
development corporation shall submit a report to the legislature that includes:
(1) A summary of the progress of the projects assigned
to the Hawaii technology development corporation by this Act;
(2) The outcomes of the projects assigned to the Hawaii
technology development corporation by this Act, including an assessment of each
project's effectiveness in achieving the goals described in subsection (a); and
(3) Any findings and recommendations, including any
proposed legislation.
SECTION 3. There is appropriated out of the general revenues
of the State of Hawaii the sum of $5,000,000 or so much thereof as may be necessary
for fiscal year 2023-2024 to be deposited into the strategic development
programs revolving fund.
SECTION 4. There is appropriated out of the strategic
development programs revolving fund the sum of $5,000,000 or so much thereof as
may be necessary for fiscal year 2023-2024 for the purposes of stimulating
private capital investments into small businesses in Hawaii.
The sum appropriated shall
be expended by the Hawaii technology development corporation for the
purposes of this Act.
SECTION 5. There is appropriated out of the general revenues of the State of
Hawaii the sum of $10,000,000 or so much thereof as may be necessary for fiscal
year 2023-2024 for the purpose of economic diversification, as described in section
2(a) of this Act as follows:
(1) $2,000,000 to accelerate economic diversification by supporting, enhancing, and encouraging new accelerator programs;
(2) $2,000,000 to support economic development
opportunities with the trade sector especially products manufactured in Hawaii;
(3) $2,000,000 to support economic development
opportunities with the defense sector including aerospace and supporting
companies conducting small business innovation research through matching grants;
and
(4) $4,000,000 to reduce and mitigate climate change through renewable energy technology demonstration projects such as hydrogen, geothermal, or clean ground, air, and sea transportation.
The sum appropriated shall
be expended by the Hawaii technology development corporation for the purposes of
this Act.
SECTION 6. The appropriation made for projects authorized by section 5 of this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2025, shall lapse as of that date.
SECTION 7. This Act, upon its approval, shall take effect on July 1, 2023.
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INTRODUCED BY: |
_____________________________ |
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BY REQUEST |
Report Title:
Hawaii Technology Development Corporation; Economic Diversification; Appropriation
Description:
Establishes a public policy framework that addresses state goals in the area of economic diversification. Appropriates funds to the Hawaii Technology Development Corporation to implement specific projects that address those goals. Requires the Hawaii Technology Development Corporation to submit annual reports to the legislature. Effective on July 1, 2023.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
