HI SB617

Establishes a research and technology grant program administered by the High Technology Development Corporation to provide grants to qualified research and technology companies in Hawaii for eligible projects.

Requires eligible companies to have applied for and received U.S. and foreign patents, received federal research contracts, been incorporated in Hawaii, operated for at least five years, and comply with all applicable laws.

Limits eligible projects to those that foster science, technology, engineering, and mathematics education at K-12 or university levels, are based on robotics, engineering, science, or mathematics principles, and involve direct student participation or input.

Sets grant amounts at 50 percent of eligible project costs paid in the State during the previous calendar year, with preference given to projects that bring in external resources and federal or private funding.

Appropriates unspecified amounts from general revenues for fiscal years 2017-2018 and 2018-2019 to fund the grant program; requires the development corporation to submit biennial reports to the legislature detailing applications, awards, and economic benefits realized.