REPORT TITLE:
Small Business


DESCRIPTION:
Appropriates funds for the high technology development
corporation.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                             2999
THE SENATE                              S.B. NO.           
TWENTIETH LEGISLATURE, 2000                                     
STATE OF HAWAII                                                 
                                                             
________________________________________________________________
________________________________________________________________


                   A  BILL  FOR  AN  ACT

MAKING AN APPROPRIATION FOR THE HIGH TECHNOLOGY DEVELOPMENT
   CORPORATION.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds that Hawaii small business
 
 2 innovation research grant program promotes the high technology
 
 3 industry in Hawaii by attracting federally funded research
 
 4 projects to Hawaii.  The Hawaii small business innovation
 
 5 research grant program is administered by the high technology
 
 6 development corporation, whose mission is to facilitate the
 
 7 development of the commercial high technology industry in Hawaii.
 
 8 The high technology development corporation is in turn a public
 
 9 body corporate attached administratively to the department of
 
10 business, economic development, and tourism.
 
11      The legislature further finds that over the past four fiscal
 
12 years local technology companies engaged in applied research
 
13 development have requested the Hawaii small business innovation
 
14 research grant program for approximately $1,500,000 in
 
15 assistance.  However, only $800,000 in general funds
 
16 appropriations were made available.  During this same fiscal
 
17 period, the small business innovation research grant program had
 
18 been able to draw in to the State approximately $4,700,000 in
 
19 federal research moneys.
 

 
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                                     S.B. NO.           
                                                        
                                                        

 
 1      The legislature further finds that pursuant to section 206M-
 
 2 15(a), Hawaii Revised Statutes, the high technology development
 
 3 corporation is required to include in its budgetary request for
 
 4 the upcoming fiscal period the amounts necessary to effectuate
 
 5 the purposes of the Hawaii small business innovation research
 
 6 grant program.
 
 7      The purpose of this Act is to appropriate funds to provide
 
 8 needed assistance to local technology companies engaged in
 
 9 applied research, encourage the receipt of further federal
 
10 research projects, and generate new technology jobs and revenue
 
11 to the State.
 
12      SECTION 2.  There is appropriated out of the general
 
13 revenues of the State of Hawaii the sum of $200,000, or so much
 
14 thereof as may be necessary for fiscal year 2000-2001, for the
 
15 high technology development corporation to continue attracting
 
16 federal research projects and generating both new technology
 
17 employment opportunities and revenues for the State.
 
18      SECTION 3.  The sum appropriated shall be expended by the
 
19 department of business, economic development, and tourism for the
 
20 purposes of this Act.
 

 
 
 
 
 
 
 
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                                     S.B. NO.           
                                                        
                                                        

 
 1      SECTION 4.  This Act shall take effect on July 1, 2000.
 
 2 
 
 3                           INTRODUCED BY:  _______________________