HI HB999

Establishes economic diversification goals for Hawaii focused on digital economy participation, strengthened trade activities, and climate change mitigation through renewable energy development.

Appropriates funds to the Hawaii Technology Development Corporation for six specific projects: accelerator programs ($2,000,000), trade sector development ($2,000,000), small business innovation research ($2,000,000), defense/aerospace sector support ($2,000,000), manufacturing assistance ($1,500,000), and renewable energy technology demonstration ($1,500,000).

Requires the Hawaii Technology Development Corporation to submit annual reports to the legislature for fiscal years 2024, 2025, and 2026 assessing project progress, outcomes, and effectiveness in meeting the established economic diversification goals.

Re-establishes a three-year Hawaii Office of Naval Research Grant Program to provide matching grants (up to 50% of federal awards) to Hawaii businesses with Department of Defense Office of Naval Research contracts related to alternative energy research; program expires June 30, 2027.

Appropriates funds to establish one full-time asset manager position and one full-time aerospace development coordinator position within the Hawaii Technology Development Corporation for fiscal years 2023-2024 and 2024-2025.