HB 521 Summary

• Establishes an Office of Entrepreneurship temporarily within the Office of the Governor, permanently transferring to the Department of Business, Economic Development, and Tourism on July 1, 2027.

• Director position appointed by the Governor with Senate confirmation, requiring professional training and experience in business, marketing, or community economic development, with supervisory or administrative background.

• Office responsibilities include strengthening entrepreneurship policies across demographic segments, providing technical support to entrepreneurs, serving as point of contact for businesses in operation five years or less, and encouraging five percent of state contracts to be awarded to early-stage businesses.

• Requires annual reporting to the legislature beginning two years after office creation, including data on state contracts awarded to businesses in operation five years or less, broken down by demographics and geographic area, plus recommendations for improving entrepreneurship access and outcomes.

• Amends the Hawaii film and creative industries development special fund to include a partnership program with the Office of Entrepreneurship and appropriates unspecified general revenues for fiscal years 2025-2026 and 2026-2027 for office establishment.