HI HB750

Establishes the Hawaii Island Technology Exchange Institute at the University of Hawaii at Hilo in collaboration with Hawaii Community College for administrative purposes.

Institute purposes include developing post-secondary education frameworks emphasizing twenty-first century skills, collaborating with private sector to build a high-technology workforce, and developing a technology transfer system to support Hawaii's technology industry.

Institute may incorporate as a nonprofit corporation and can seek grants, gifts, and funding from public and private sources; qualifying standards under chapter 42F do not apply to the institute itself but apply to contracted recipients.

If incorporated, the institute must comply with federal and state nondiscrimination laws, maintain tax-exempt status, prohibit use of state funds for entertainment or lobbying, and maintain a conflict-free governing board serving without compensation.

Institute retains ownership of patents, copyrights, inventions, and discoveries arising from its activities; must submit annual reports to the legislature detailing use of state funds; effective January 1, 2525.