HB 2209 Summary

• Creates an energy innovation award program administered by the high technology innovation corporation to recognize applicants with patentable technologies that generate significant energy savings for Hawaii.

• Authorizes the board of directors to establish eligibility conditions, application criteria, winner selection process, and prize amounts for the awards.

• Designates the high technology special fund as the funding source for energy innovation awards, with awards paid from moneys, fees, and equity generated by the corporation's industrial parks and facilities.

• Maintains the existing $3,000,000 cap on the high technology special fund at the end of each fiscal year.

• Takes effect on July 1, 2010.