Bill Text: HI SB1443 | 2020 | Regular Session | Amended
Bill Title: Relating To The Hawaii Technology Development Corporation.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Engrossed - Dead) 2020-06-25 - Passed Second Reading and referred to the committee(s) on FIN with Representative(s) Okimoto, Ward voting aye with reservations; none voting no (0) and Representative(s) Cabanilla Arakawa, Matayoshi excused (2). [SB1443 Detail]
Download: Hawaii-2020-SB1443-Amended.html
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THE SENATE |
S.B. NO. |
1443 |
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THIRTIETH LEGISLATURE, 2019 |
S.D. 1 |
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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 find that the Hawaii technology development corporation is a key state agency in the development and support of the State's manufacturing industry. Continued support for manufacturing is important to Hawaii's economy and the manufacturing development program can have the greatest impact by providing support to more manufacturing companies.
The purpose of this Act is to prohibit a company from receiving a grant in consecutive years under the manufacturing development program.
SECTION 2. Section 206M-15.1, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) There is established the manufacturing development program, through which the development corporation may provide grants to any business in Hawaii that is a manufacturer in the State and requires assistance for any of the following items:
(1) Purchasing of manufacturing equipment;
(2) Training of employees on the use of manufacturing equipment;
(3) Improving existing energy efficiency manufacturing equipment or the purchase of improved energy efficiency equipment in the manufacturing process; or
(4) Studying or planning the implementation of a new manufacturing facility;
provided that no grant shall exceed twenty per cent
of the cost of any of the above items, [and] no company shall receive a
grant exceeding $100,000 in any given year[.], and no company shall
receive a grant in consecutive years."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2050.
Report Title:
Hawaii Technology Development Corporation; Manufacturing Development Program; Grants
Description:
Prohibits a company from receiving a grant in consecutive years under the manufacturing development program. Effective 7/1/2050. (SD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
