HI HB2481

Establishes the Hawaii High Impact Center for Commercialization (HI-Impact) within the high technology development corporation to support Hawaii-based small businesses in dual-use technology, agriculture development, molecular manufacturing, humanitarian assistance, and disaster management.

Center shall develop a comprehensive technology transfer and commercialization system including a manufacturing readiness program to prepare the state's science and technology sector for production and sales.

Center may provide capital for accelerated commercialization activities and high-potential business infrastructure development to help enterprises achieve commercial success.

If incorporated as an independent nonprofit, the center must be organized under chapter 414D, maintain a conflict-free board of directors serving without compensation, prohibit use of state funds for entertainment or lobbying, and maintain IRS tax-exempt status.

Appropriates unspecified amount from general revenues for fiscal year 2014-2015 to be expended by the high technology development corporation; appropriation takes effect July 1, 2014, while other provisions take effect January 20, 2050.