HI SB3001

Authorizes the Hawaii Technology Development Corporation to provide grants to businesses with competitive Department of Defense contracts for alternative energy research in geothermal, solar, wind, ocean power, hydrodynamics, bioenergy, biomass, smart grids, transportation, and demand response technologies.

Eligible businesses must be at least 60% resident-owned, organized as for-profit entities under Hawaii law, operating in the state for at least one year, and conducting research with high technology readiness level or implementation potential.

Grant recipients must spend all awarded funds within Hawaii and cannot simultaneously receive other state grants for the same research.

Grant amount cannot exceed a specified percentage of the Department of Defense contract amount (percentage amount left blank in bill text).

Appropriates funds from general revenues for fiscal year 2018-2019; Act takes effect July 1, 2112 and repeals June 30, 2023.