HB 592 - Alternative Energy Research and Development Pilot Program

• Extends the Alternative Energy Research and Development Pilot Program from a two-year to a four-year program within the Department of Business, Economic Development, and Tourism.

• Changes the program's sunset date from June 30, 2017 to June 30, 2019.

• Appropriates funds from general revenues to the alternative energy research and development revolving fund for fiscal years 2017-2018 and 2018-2019 (specific dollar amounts left blank in bill text).

• Authorizes the High Technology Development Corporation to distribute appropriated funds as grants to businesses conducting alternative energy research and development that meet established criteria.

• Upon program termination on June 30, 2019, all unencumbered fund balances shall revert to the state general fund.