Bill Text: HI SB1444 | 2019 | Regular Session | Amended


Bill Title: Relating To The Hawaii Technology Development Corporation.

Spectrum: Partisan Bill (Democrat 9-0)

Status: (Introduced) 2019-02-14 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB1444 Detail]

Download: Hawaii-2019-SB1444-Amended.html

THE SENATE

S.B. NO.

1444

THIRTIETH LEGISLATURE, 2019

S.D. 1

STATE OF HAWAII

 

 

 

 

 

 

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 the Hawaii technology development corporation is a key state agency in developing and supporting initiatives aimed at promoting technology and innovation jobs in the State.  In 2018, the legislature provided funding for and made changes to the small business innovation research program.  The legislature supports continuation of the small business innovation research program as an important initiative of the State to assist Hawaii small businesses in advancing technology and developing new products.

     The purpose of this Act is to:

     (1)  Require the Hawaii technology development corporation to adopt rules to require awardees of small business innovation research program grants to reimburse funds awarded if they relocate their principal place of business outside the state within five years of receiving the award; and

     (2)  Appropriate funds for the continuance of the small business innovation research program operated by the Hawaii technology development corporation.

     SECTION 2.  Section 206M-15, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

     "(c)  The development corporation shall adopt rules pursuant to chapter 91 that:

     (1)  Specify the qualifications for eligibility of grant applicants;

     (2)  Establish priorities in determining eligibility in the event that insufficient funds are available to fund otherwise qualified applicants; [and]

     (3)  Give preference to all qualified businesses receiving their first award in one fiscal year over multiple award grantees[.]; and

     (4)  Require businesses receiving an award to reimburse the State all moneys awarded in the event that the company relocates its principal place of business out of Hawaii within five years of receiving an award.

The development corporation may adopt any other rules pursuant to chapter 91 necessary for the purposes of this section."

     SECTION 3.  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 2019-2020 and the same sum or so much thereof as may be necessary for fiscal year 2020-2021 for the continuance of the small business innovation research program; provided that the Hawaii technology development corporation shall plan to provide funds for phase three grants where applicable.

     The sums appropriated shall be expended by the Hawaii technology development corporation for the purposes of this Act.

     SECTION 4.  This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.

     SECTION 5.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 6.  This Act shall take effect on July 1, 2019.

 


 


 

Report Title:

Hawaii Technology Development Corporation; Small Business Innovation Research Program; Appropriation

 

Description:

Appropriates funds to the Hawaii technology development corporation to continue the small business innovation research program.  Requires businesses that receive a small business innovation research grant award to return the award if they move their principal place of business out of Hawaii within five years.  (SD1)

 

 

 

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

 

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