Report Title:

Small Business Innovation Research; Matching Grants; Appropriation

Description:

Expands the high technology research and development loans and grants provided by the High Technology Development Corporation, to include matching grants for companies that receive small business technology transfer grants. Appropriates moneys for the expansion.

THE SENATE

S.B. NO.

1249

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to small business technology transfer grants.

 

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

SECTION 1. Section 206M-15, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

"(b) The development corporation may provide grants not exceeding the lesser of:

(1) Fifty per cent of the federal small business innovation research phase I award or contract; [or]

(2) $25,000 to each business in Hawaii that receives a federal small business innovation research phase I award or contract from any participating federal agency[,]; or

(3) Grants matching small business technology transfer grants to businesses,

subject to the availability of funds."

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $250,000, or so much thereof as may be necessary for fiscal year 2003-2004, for the purposes of this Act.

SECTION 3. The sum appropriated shall be expended by the high 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 Statutory material to be repealed is bracketed and stricken.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 upon its approval, provided that sections 2 and 3 shall take effect on July 1, 2003.

INTRODUCED BY:

_____________________________