HI HB706

Requires the Office of Hawaiian Affairs board of trustees and Hawaiian Homes Commission to jointly establish a Native Hawaiian research, science, and technology park serving as an incubator and resource center for Native Hawaiian entrepreneurs.

Authorizes the agencies to identify Native Hawaiian business organizations to participate, establish loan programs for Native Hawaiian entrepreneurs, issue revenue bonds for project financing, enter long-term leases for research and technology projects, and promote conferences and seminars.

Requires the board and commission to select qualified personnel to administer the research, science, and technology park.

Appropriates unspecified sums from general revenues for fiscal years 2011-2012 and 2012-2013 to the Office of Hawaiian Affairs and Department of Hawaiian Home Lands to establish the park.

Effective date is July 1, 2011, with severability provisions requiring federal consent if needed under the Hawaiian Homes Commission Act.