HB1157 Summary

• Exempts technology transfer activities sponsored by the University of Hawaii from Hawaii State Ethics Code sections 84-12, 84-13, 84-14 to 84-16, and 84-18, provided activities comply with the Board of Regents' regulatory framework and research compliance program.

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

• Requires the Board of Regents to submit written status reports to the Legislature every two years during odd-numbered year sessions regarding the development and implementation of its regulatory framework and compliance program.

• Takes effect on July 1, 2038.