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.

Requires grant recipients to have U.S. and foreign patents, federal research contracts, be incorporated in Hawaii, and have operated for at least five years.

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

Sets grant amounts at fifty percent of eligible project costs paid in Hawaii during the previous calendar year, with a per-company annual cap and preference given to projects that bring in external resources and federal or private funding.

Appropriates unspecified funds for fiscal years 2017-2018 and 2018-2019, requires biennial reporting to the legislature on program outcomes, and takes effect July 1, 2050.