H.B. 2715 Summary

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

• Eligible companies must have applied for and received U.S. and foreign patents or federal research contracts, be incorporated in Hawaii, have been in operation for at least five years, and comply with all applicable laws.

• Eligible projects must foster science, technology, engineering, or mathematics education at K-12 or university levels, be based on robotics, engineering, science, or mathematics principles, and involve direct student participation.

• Grants equal fifty percent of eligible project costs paid in the State during the previous calendar year or after January 1, 2019, with preference given to projects that bring in federal or private funding.

• Appropriates general revenues to the Hawaii Technology Development Corporation for fiscal year 2020-2021 to award grants under this program and requires biennial reporting to the legislature on applications, awards, and economic benefits.