HI SB2940

Exempts University of Hawaii technology transfer activities from specified sections of the state ethics code (sections 84-12, 84-13, 84-14 to 84-16, and 84-18), provided activities comply with the university's board-approved regulatory framework and research compliance program.

Defines "technology transfer activities" as the process of transferring scientific findings from the public sector to the private sector for commercial development, including joint ventures, equity allocations, patent protection, and commercialization strategies.

Requires the University of Hawaii board of regents to submit a written status report to the legislature no later than 20 days prior to each regular session in odd-numbered years regarding the development and implementation of its regulatory framework and compliance program.

Requires the board's biennial report to include information on the university's technology transfer activities and their status.

Takes effect upon approval.