HI HB1170

Establishes a state venture capital program within the Hawaii Technology Development Corporation to provide venture capital investments in early stage small businesses headquartered in Hawaii.

Hawaii Technology Development Corporation shall determine business eligibility, develop application processes, establish investment conditions including financial and economic development return goals, and adopt necessary rules.

Limits venture capital investments to no more than a specified dollar amount per early stage small business in any one calendar year (amount not filled in the bill text).

Creates a state venture capital program special fund to be financed by legislative appropriations, interest earnings, and other available sources for making venture capital investments and carrying out program purposes.

Takes effect July 1, 2050.