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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2282 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO HIGH TECHNOLOGY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 206M-15, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (b) to read:
"(b) The development corporation may provide grants to any business in Hawaii that:
(1) Receives [a] federal small business
innovation research phase I [award or contract], II, or III awards
or contracts from any participating federal agency, up to fifty per cent of
the amount of the federal award or contract;
(2) Receives a federal small business technology transfer program award or contract from any participating federal agency, up to fifty per cent of the amount of the federal award or contract; or
(3) Applies for a small business innovation research federal grant or a small business technology transfer program federal grant, in an amount not to exceed $3,000, subject to the availability of funds."
2. By amending subsection (d) to read:
"(d) If funds appropriated for the
purpose of making grants under this section are
inadequate to satisfy all qualified requests, the development corporation shall
apply for funds to be transferred from the Hawaii capital loan revolving fund
to provide the grants in accordance with subsection (b). The amount of any
single transfer of funds shall not exceed [$100,000,] $
, and the development corporation shall transfer the entire amount back to
the Hawaii capital loan revolving fund within twelve months of receiving the
funds. No more than one fund transfer shall be outstanding at any one time. The
director of business, economic development, and tourism may transfer funds from
the Hawaii capital loan revolving fund to the development corporation upon
request to carry out the purposes of this section. Transfers of funds shall be
made without any charges or fees."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall take effect on January 20, 2050.
Report Title:
High Technology Development Corporation; Small Business Innovation Research Grants; Hawaii Capital Loan Revolving Fund
Description:
Amends section 206M-15, Hawaii Revised Statutes, to add Phase II or III Small Business Innovation Research grants to qualifying criteria. Increases the ceiling on transfers from the Hawaii Capital Loan Revolving Fund from $100,000 to an unspecified amount. Effective January 20, 2050. (HB2282 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.