HI HB973

Establishes a Research and Technology Grant Program within the High Technology Development Corporation to award grants to qualified research and technology companies engaged in research, mathematics, science, and engineering activities.

Defines eligible grant recipients as Hawaii for-profit companies with headquarters in the State that have received patents or federal research contracts performed in Hawaii, and prohibits use of state funds for entertainment or lobbying.

Limits individual grants to 25 percent of eligible project costs incurred in Hawaii during the previous calendar year, with a maximum grant amount per company of one grant per calendar year (specific dollar amount not filled in).

Requires eligible projects to foster science, technology, engineering, and mathematics education at K-12 or post-secondary levels and involve direct student participation including paid internships, with preference given to projects attracting outside resources and funding.

Appropriates unspecified funds from general revenues for fiscal years 2017-2018 and 2018-2019 to be administered by the High Technology Development Corporation, with the program taking effect July 1, 2038.