HOUSE OF REPRESENTATIVES	H.B. NO.	2209
TWENTY-FIFTH LEGISLATURE, 2010
STATE OF HAWAII

A BILL FOR AN ACT

relating to energy innovation awards.

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

     SECTION 1.  Chapter 206M, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§206M-   Energy innovation awards.  The high technology innovation corporation shall create an energy innovation award to be awarded to applicants who present a patentable technology that would create significant energy savings for Hawaii.  Conditions and criteria for the eligibility of applicants, applications, selection of award winners, and prize amounts shall be established by the board of directors.  Winners of energy innovation awards shall be selected by vote of the board of directors."

     SECTION 2.  Section 206M-15.5, Hawaii Revised Statutes, is amended to read as follows:

     "§206M-15.5  High technology special fund.  There is established in the state treasury a fund to be known as the high technology special fund, into which shall be deposited, except as otherwise provided by section 206M-17, all moneys, fees, and equity from tenants, qualified persons, or other users of the development corporation's industrial parks, projects, other leased facilities, and other services and publications; provided that the total amount of moneys in the fund shall not exceed $3,000,000 at the end of any fiscal year.  All moneys in the fund are appropriated for the purposes of and shall be expended by the development corporation for the operation, maintenance, and management of its industrial parks, projects, facilities, services, and publications, [and] to pay the expenses in administering the special purpose revenue bonds of the development corporation or in carrying out its project agreements[.] and to make energy innovation awards pursuant to section 206M-  ."

     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  Statutory material to be repealed is bracketed and stricken.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, 2010.

INTRODUCED BY:

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Report Title:

Energy Innovation Award

Description:

Establishes the energy innovation award to be awarded by the high technology innovation corporation to applicants that present patentable technologies that create significant energy savings for Hawaii.

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