HOUSE OF REPRESENTATIVES

H.B. NO.

2481

TWENTY-SEVENTH LEGISLATURE, 2014

H.D. 1

STATE OF HAWAII

S.D. 2

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO THE HAWAII HIGH IMPACT CENTER FOR COMMERCIALIZATION.

 

 

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

 


SECTION 1. The legislature finds that to be successful in the twenty-first century global economy, Hawaii must position itself as a leader in technology development, transfer, and commercialization. Significant progress has been made in the past years through programs supported by federal and state initiatives, but more is required to move Hawaii's technology industry to support local manufacturing and technology commercialization. Innovation in the science and technology fields will not only enable the State to succeed in the global marketplace, but will also support the State's sustainable economic development goals.

The purpose of this Act is to build on the successes of Hawaii's science and technology industries and establish a commercialization program, Hawaii High Impact Center for Commercialization (HI-Impact), to support Hawaii-based small businesses in fields such as dual-use technology, agriculture development, molecular manufacturing, humanitarian assistance, and disaster management and response.

SECTION 2. Chapter 206M, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"206M-   Hawaii high impact center for commercialization. (a) There is established the Hawaii high impact center for commercialization, to be known as HI-Impact, to support Hawaii-based small businesses. The center shall be placed within the high technology development corporation for administrative purposes; provided that the center may incorporate as an independent nonprofit corporation to further its objectives.

(b) The purposes of the center shall be to:

(1) Develop, implement, and operate a comprehensive technology transfer and commercialization system to help Hawaii's technology industry include a manufacturing readiness program, which shall enable the State's science and technology sector to prepare for manufacturing, sales, and services;

(2) Provide capital to support accelerated commercialization activities, including those in the fields of dual-use technology, innovative agriculture development, molecular manufacturing, humanitarian assistance, and disaster management and response;

(3) Provide capital for high-potential business infrastructure development that helps the enterprise achieve commercial success;

(4) Promote high-quality, high-income job opportunities for Hawaii's residents and graduates of Hawaii's educational institutions;

(5) Provide livable-wage jobs to encourage scientists and engineers to return home to jobs in Hawaii; and

(6) Encourage high technology companies to continue to locate operations and facilities in Hawaii by limiting the need to seek out-of-state venture capital, which dilutes local ownership.

(c) If the center incorporates, to qualify for state funds, the center shall:

(1) Be organized and governed pursuant to chapter 414D;

(2) Agree not to use state funds for entertainment or lobbying;

(3) Be a nonprofit organization exempt from the federal income tax by the Internal Revenue Service;

(4) Maintain bylaws or policies specifying the manner in which grant or subsidy awards for activities or services shall be conducted or provided; and

(5) Maintain a governing board of directors consisting entirely of persons who have no material conflict of interest and who serve without compensation.

(d) The center may seek, receive, and accept from public and private sources, whether located in or out of the United States, grants, gifts, devises, bequests, or any other money or property, real, personal, or mixed, tangible or intangible, absolutely or in trust, to be used in carrying out the purposes of the center.

(e) For purposes of this section, "center" means the Hawaii high impact center for commercialization."

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $           or so much thereof as may be necessary for fiscal year 2014-2015 for the Hawaii high impact center for commercialization.

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

SECTION 4. New statutory material is underscored.

SECTION 5. This Act shall take effect on January 20, 2050; provided that section 3 shall take effect on July 1, 2014.



 

Report Title:

Hawaii High Impact Center for Commercialization (HI-Impact); High Technology Development Corporation; Appropriation

 

Description:

Establishes the Hawaii high impact center for commercialization in the high technology development corporation. Makes an appropriation. Effective 1/20/2050. (SD2)

 

 

 

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