Bill Text: HI SB995 | 2020 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating To The Hawaii Technology Development Corporation.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed) 2019-12-01 - Carried over to 2020 Regular Session. [SB995 Detail]

Download: Hawaii-2020-SB995-Amended.html

THE SENATE

S.B. NO.

995

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.  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)  Requires 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 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $1,000,000 or so much thereof as may be necessary for fiscal year 2019-2020 to be deposited into the research and development special fund established pursuant to section 206M-15.3, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the research and development special fund the sum of $1,000,000 or so much thereof as may be necessary for fiscal year 2019-2020 for the purposes of the research and development program established pursuant to 206M-15.2, Hawaii Revised Statutes.

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

     SECTION 4.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 5.  This Act shall take effect on July 1, 2019.



 

Report Title:

Research and Development; Hawaii Technology Development Corporation; Appropriation

 

Description:

Requires HTDC to adopt rules to require businesses that receive a technology research and development grant award to maintain their principal place of business in Hawaii for five years or, if they do not, to return the award.  Makes an appropriation into and out of the research and development special fund for HTDC's research and development program.  (SD1)

 

 

 

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

 

feedback