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 board and commission to identify Native Hawaiian business organizations, establish loan programs for Native Hawaiian entrepreneurs, issue revenue bonds for research and technology projects, enter into long-term leases, and promote conferences and seminars.

Directs the board and commission to select qualified personnel to administer the park and its objectives.

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

Effective July 1, 2011, with severability clause requiring United States consent if needed for certain provisions under the Hawaiian Homes Commission Act, 1920.