HI HB1614

Establishes the Hawaii Technology Development Corporation Revolving Fund to finance state matching contributions required by federal grants supporting innovation, technology, research, and manufacturing initiatives.

Fund deposits include legislative appropriations, federal grant funds received, repayments from prior grant activities, and interest earned on the fund balance.

Prioritizes federal grants that leverage state funds at a ratio of at least 1:5 and proposals projected to generate state revenues.

Requires annual reporting to the legislature beginning in 2027, including fund balance, grant applications and awards, matching funds used, and economic impact of federally matched projects.

Appropriations are contingent on HTDC receiving a formal federal grant award requiring a state match; no allocation occurs if no qualifying federal award is received during the fiscal period.