HI SB2947

Authorizes the issuance of $3,000,000 in general obligation bonds for fiscal year 2016-2017 to develop an electrolysis process hydrogen production, storage, and dispensing facility.

Appropriates $1,800,000 from general revenues for fiscal year 2016-2017 to be deposited into the high technology special fund for operating costs of the hydrogen facility.

Requires private enterprises or entities to provide matching funds on a dollar-for-dollar basis before any funds from this Act become available.

Amends section 206M-15.5 to clarify that the high technology special fund shall receive appropriations or other funds required to be deposited by statute.

Requires the high technology development corporation to adopt rules to collect and deposit fees from hydrogen sales at funded facilities into the high technology special fund, with appropriations not lapsing until June 30, 2018.