SB995 Summary

• Requires the Hawaii Technology Development Corporation (HTDC) to adopt rules mandating that businesses receiving research and development grants must reimburse the state if they relocate their principal place of business out of Hawaii within five years of receiving an award.

• Transfers all rights, powers, functions, and duties of HTDC and the Hawaii Strategic Development Corporation to the University of Hawaii, including administration of small business innovation research grants and manufacturing assistance programs.

• Removes HTDC as a state agency under the Department of Business, Economic Development, and Tourism and updates statutory references to direct grant and program administration through the University of Hawaii.

• Repeals Act 67 (SLH 2018) and Act 141 (SLH 2018) relating to alternative energy research and development programs and HTDC's research and development program.

• Appropriates funds to the University of Hawaii for fiscal years 2019-2020 and 2020-2021 to implement the transfer of HTDC and related corporation functions, with provision for employee retention of civil service status and benefits.