HB 1614: HTDC; Hawaii Technology Development Corporation Revolving Fund; Federal Grants; Appropriation
- Session Year: 2025-2026
- House: House
- Latest Version Date: 2026-03-23
Current Status:
Failed
(2026-03-24: Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.)
Introduced
In Committee
First Chamber
In Committee
Second Chamber
Final Decking
Enacted
Establishes the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants. Appropriates funds. Effective 7/1/3050. (SD1)
Establishes the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants. Appropriates funds. Effective 7/1/3000. (HD1)
Establishes the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants. Appropriates funds.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1614 |
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THIRTY-THIRD LEGISLATURE, 2026 |
H.D. 1 |
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STATE OF HAWAII |
S.D. 1 |
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A BILL FOR AN ACT
RELATING TO ECONOMIC DEVELOPMENT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the Hawaii technology development corporation (development corporation), established in 1983, serves as the State's lead agency for supporting the growth and diversification of the technology, innovation, and manufacturing sectors in the State. Over the past four decades, the development corporation has advanced statewide initiatives that have helped small businesses and entrepreneurs expand into global markets, supported the development of clean and renewable energy technologies, and strengthened the manufacturing and innovation ecosystem in the State through programs such as the Hawaiʻi small business innovation research program, the manufacturing assistance program, and the accelerator and small business training programs.
The legislature further finds that the development corporation has played a critical role in positioning innovation and technology as key pillars of the State's economic development strategy. Through partnerships with federal agencies, universities, and local businesses, the development corporation has helped attract federal investment, foster workforce development, and cultivate high-growth industries that contribute to long-term job creation and the State's economic resilience.
The legislature, however, additionally finds that many federal grants require state matching funds, often ranging from one-to-one to one-to-five ratios between state and federal contributions. The existing process for securing these matching funds is not aligned with federal grant timelines, forcing state agencies to seek emergency or ad hoc appropriations after federal awards are announced. This misalignment reduces the State's competitiveness and risks forfeiting millions in potential federal dollars that could support the State's economic diversification goals.
The legislature also finds that consistent and predictable state support is essential for the development corporation to continue fulfilling its mission as an economic driver. By providing access to timely matching funds, the legislature can ensure that the State remains competitive in securing federal awards that amplify local investment, support small businesses, and advance the goals of a diversified and innovation-based economy.
Furthermore, the legislature finds that the establishment of a revolving fund will ensure that the development corporation has timely access to matching funds when applying for and administering eligible federal grants. The fund shall only be allocated if the development corporation successfully secures a federal award that requires a state match, thereby safeguarding state resources while enhancing the State's ability to leverage federal investment.
Accordingly, the purpose of this Act is to provide a dedicated source of funds, through the establishment of a revolving fund, to be used and administered by the Hawaii technology development corporation to finance the State's matching contributions required by federal grants supporting innovation, technology, research, and manufacturing initiatives.
SECTION 2. Chapter 206M, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§206M- Hawaii technology development corporation revolving fund; established. (a) There is established in the state treasury the Hawaii technology development corporation revolving fund to be administered by the development corporation.
(b) The following shall be deposited into the Hawaii technology development corporation revolving fund:
(1) Appropriations made by the legislature to the revolving fund;
(2) Transfers from other funds as authorized by law;
(3) Federal funds received by the development corporation as part of grant awards;
(4) Repayments or reimbursements associated with prior grant activities; and
(5) Any interest earned on the revolving fund balance.
(c) Moneys in the Hawaii technology development corporation revolving fund shall be used for the following purposes:
(1) To provide state matching funds for federal grants awarded to the development corporation that require a state contribution as a condition of the award; provided that priority shall be for:
(A) Federal grants that leverage state funds at a ratio of at least one to five; and
(B) Proposals that are projected to generate state revenues;
(2) To cover administrative costs directly associated with the management of the grants or the revolving fund; and
(3) To support related activities approved by the board that are necessary to fulfill federal grant obligations.
(d) Moneys in the revolving fund shall not lapse at the end of any fiscal year and shall remain available for expenditure until the conclusion of the federal grant contract or until the contract is otherwise terminated in accordance with federal and state law.
(e) The development corporation shall submit an annual report to the legislature no later than twenty days prior to the convening of each regular session, beginning with the regular session of 2027. Each report shall include:
(1) The balance of the revolving fund;
(2) A list of federal grant applications and awards requiring matching funds;
(3) The amount of state moneys used as matching funds; and
(4) The outcomes and economic impact of each federally matched project."
SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2026-2027 to be deposited into the Hawaii technology development corporation revolving fund established pursuant to this Act.
SECTION 4. There is appropriated out of the Hawaii technology development corporation revolving fund the sum of $ or so much thereof as may be necessary for fiscal year 2026-2027 for the purposes of the Hawaii technology development corporation revolving fund.
The sum appropriated shall be expended by the Hawaii technology development corporation for the purposes of this Act.
SECTION 5. Notwithstanding any other law to the contrary, the moneys appropriated by this Act shall not be allocated or expended unless the Hawaii technology development corporation has been formally awarded a federal grant requiring a state match. Upon notice of a federal grant award to the Hawaii technology development corporation requiring a state match, the director of finance shall transfer from the general fund to the Hawaii technology development corporation revolving fund an amount not to exceed the matching requirement, up to the available balance authorized by this Act.
If the Hawaii technology development corporation does not receive a qualifying federal award during the fiscal period, no allocation shall be made.
SECTION 6. New statutory material is underscored.
SECTION 7. This Act shall take effect on July 1, 3050.
Report Title:
HTDC; Hawaii Technology Development Corporation Revolving Fund; Federal Grants; Appropriation
Description:
Establishes the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants. Appropriates funds. Effective 7/1/3050. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1614 |
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THIRTY-THIRD LEGISLATURE, 2026 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO ECONOMIC DEVELOPMENT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the Hawaii technology development corporation (development corporation), established in 1983, serves as the State's lead agency for supporting the growth and diversification of the technology, innovation, and manufacturing sectors in the State. Over the past four decades, the development corporation has advanced statewide initiatives that have helped small businesses and entrepreneurs expand into global markets, supported the development of clean and renewable energy technologies, and strengthened the manufacturing and innovation ecosystem in the State through programs such as the Hawaiʻi small business innovation research program, the manufacturing assistance program, and the accelerator program.
The legislature further finds that the development corporation has played a critical role in positioning innovation and technology as key pillars of the State's economic development strategy. Through partnerships with federal agencies, universities, and local businesses, the corporation has helped attract federal investment, foster workforce development, and cultivate high-growth industries that contribute to long-term job creation and the State's economic resilience.
The legislature, however, additionally finds many federal grants require state matching funds, often ranging from one-to-one to one-to-five ratios between state and federal contributions. The existing process for securing these matching funds is not aligned with federal grant timelines, forcing state agencies to seek emergency or ad hoc appropriations after federal awards are announced. This misalignment reduces the State's competitiveness and risks forfeiting millions in potential federal dollars that could support the State's economic diversification goals.
The legislature also finds that consistent and predictable state support is essential for the development corporation to continue fulfilling its mission as an economic driver. By providing access to timely matching funds, the legislature can ensure that the State remains competitive in securing federal awards that amplify local investment, support small businesses, and advance the goals of a diversified and innovation-based economy.
Furthermore, the legislature finds that the establishment of a revolving fund will ensure that the development corporation has timely access to matching funds when applying for and administering eligible federal grants. The fund shall only be allocated if the development corporation successfully secures a federal award that requires a state match, thereby safeguarding state resources while enhancing the State's ability to leverage federal investment.
Accordingly, the purpose of this Act is to provide a dedicated source of funds, through the establishment of a revolving fund, to be used and administered by the Hawaii technology development corporation to finance the State's matching contributions required by federal grants supporting innovation, technology, research, and manufacturing initiatives.
SECTION 2. Chapter 206M, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§206M- Hawaii technology development corporation revolving fund. (a) There is established in the state treasury the Hawaii technology development corporation revolving fund to be administered by the development corporation.
(b) The following shall be deposited into the Hawaii technology development corporation revolving fund:
(1) Appropriations made by the legislature to the revolving fund;
(2) Transfers from other funds as authorized by law;
(3) Federal funds received by the development corporation as part of grant awards;
(4) Repayments or reimbursements associated with prior grant activities; and
(5) Any interest earned on the revolving fund balance.
(c) Moneys in the Hawaii technology development corporation revolving fund shall be used for the following purposes:
(1) To provide state matching funds for federal grants awarded to the development corporation that require a state contribution as a condition of the award; provided that priority shall be for:
(A) Federal grants that leverage state funds at a ratio of at least one to five; and
(B) Proposals that are projected to generate state revenues;
(2) To cover administrative costs directly associated with the management of the grants or the revolving fund; and
(3) To support related activities approved by the board that are necessary to fulfill federal grant obligations.
(d) Moneys in the revolving fund shall not lapse at the end of any fiscal year and shall remain available for expenditure until the conclusion of the federal grant contract or until the contract is otherwise terminated in accordance with federal and state law.
(e) The development corporation shall submit an annual report to the legislature no later than twenty days prior to the convening of each regular session, beginning with the regular session of 2027. The report shall include:
(1) The balance of the revolving fund;
(2) A list of federal grant applications and awards requiring matching funds;
(3) The amount of state moneys used as a match; and
(4) The outcomes and economic impact of each federally matched project."
SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2026-2027 to be deposited into the Hawaii technology development corporation revolving fund established by this Act.
SECTION 4. There is appropriated out of the Hawaii technology development corporation revolving fund the sum of $ or so much thereof as may be necessary for fiscal year 2026-2027 for the purposes of the Hawaii technology development corporation revolving fund.
The sum appropriated shall be expended by the Hawaii technology development corporation for the purposes of this Act.
SECTION 5. Notwithstanding any other law to the contrary, the moneys appropriated by this Act shall not be allocated or expended unless the Hawaii technology development corporation has been formally awarded a federal grant requiring a state match. Upon notice of a federal grant award to the Hawaii technology development corporation requiring a state match, the director of finance shall transfer from the general fund to the Hawaii technology development corporation revolving fund an amount not to exceed the matching requirement, up to the available balance authorized by this Act.
If the Hawaii technology development corporation does not receive a qualifying federal award during the fiscal period, no allocation shall be made.
SECTION 6. New statutory material is underscored.
SECTION 7. This Act shall take effect on July 1, 3000.
Report Title:
HTDC; Hawaii Technology Development Corporation Revolving Fund; Federal Grants; Appropriation
Description:
Establishes the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants. Appropriates funds. Effective 7/1/3000. (HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1614 |
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THIRTY-THIRD LEGISLATURE, 2026 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to economic development.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the Hawaii technology development corporation, established in 1983, serves as the State's lead agency for supporting the growth and diversification of the technology, innovation, and manufacturing sectors in the State. Over the past four decades, the corporation has advanced statewide initiatives that have helped small businesses and entrepreneurs expand into global markets, supported the development of clean and renewable energy technologies, and strengthened the manufacturing and innovation ecosystem in the State through programs such as the Hawaiʻi small business innovation research program, the manufacturing assistance program and the accelerator program.
The legislature further finds that the corporation has played a critical role in positioning innovation and technology as key pillars of the State's economic development strategy. Through partnerships with federal agencies, universities, and local businesses, the corporation has helped attract federal investment, foster workforce development, and cultivate high-growth industries that contribute to long-term job creation and the State's economic resilience.
The legislature, however, additionally finds many federal grants require state matching funds, often ranging from one-to-one to one-to-five ratios between state and federal contributions. The existing process securing these matching funds is not aligned with federal grant timelines, forcing state agencies to seek emergency or ad hoc appropriations after federal awards are announced. This misalignment reduces the State's competitiveness and risks forfeiting millions in potential federal dollars that could support the State's economic diversification goals.
The legislature further finds that consistent and predictable state support is essential for the corporation to continue fulfilling its mission as an economic driver. By providing access to timely matching funds, the legislature can ensure that the State remains competitive in securing federal awards that amplify local investment, support small businesses, and advance the goals of a diversified and innovation-based economy.
Furthermore, the legislature finds that the establishment of a revolving fund will ensure that the corporation has timely access to matching funds when applying for and administering eligible federal grants. The fund shall only be allocated if the corporation successfully secures a federal award that requires a state match, thereby safeguarding state resources while enhancing the State's ability to leverage federal investment.
Accordingly, the purpose of this Act is to provide a dedicated source of funds, through the establishment of a revolving fund, to be used and administered by the Hawaii technology development corporation to finance the State's matching contributions required by federal grants supporting innovation, technology, research, and manufacturing initiatives.
SECTION 2. Chapter 206M, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§206M- Hawaii technology development corporation revolving fund. (a) There is established in the state treasury the Hawaii technology development corporation revolving fund to be administered by the development corporation.
(b) The following shall be deposited into the Hawaii technology development corporation revolving fund:
(1) Appropriations made by the legislature to the revolving fund;
(2) Transfers from other funds as authorized by law;
(3) Federal funds received by the corporation as part of grant awards;
(4) Repayments or reimbursements associated with prior grant activities; and
(5) Any interest earned on the revolving fund balance.
(c) Moneys in the Hawaii technology development corporation revolving fund shall be used for the following purposes:
(1) To provide state matching funds for federal grants awarded to the development corporation that require a state contribution as a condition of the award;
(2) To cover administrative costs directly associated with the management of the grants or the revolving fund; and
(3) To support related activities approved by the board that are necessary to fulfill federal grant obligations.
(d) Moneys in the revolving fund shall not lapse at the end of any fiscal year and shall remain available for expenditure until the conclusion of the federal grant contract or until the contract is otherwise terminated in accordance with federal and state law.
(e) The development corporation shall submit an annual report to the legislature no later than twenty days prior to the convening of each regular session, beginning with the regular session of 2027. The report shall include:
(1) The balance of the revolving fund;
(2) A list of federal grant applications and awards requiring matching funds;
(3) The amount of state moneys used as a match; and
(4) The outcomes and economic impact of each federally matched project."
SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $10,000,000 or so much thereof as may be necessary for fiscal year 2026-2027 to be deposited into the Hawaii technology development corporation revolving fund established by this Act.
SECTION 4. There is appropriated out of the Hawaii technology development corporation revolving fund the sum of $10,000,000 or so much thereof as may be necessary for fiscal year 2026-2027 for the purposes of the Hawaii technology development corporation revolving fund.
The sum appropriated shall be expended by the Hawaii technology development corporation for the purposes of this Act.
SECTION 5. Notwithstanding any other law to the contrary, the moneys appropriated by this Act shall not be allocated or expended unless the Hawaii technology development corporation has been formally awarded a federal grant requiring a state match. Upon notice of a federal grant award to the Hawaii technology development corporation requiring a state match, the director of finance shall transfer from the general fund to the Hawaii technology development corporation revolving fund an amount not to exceed the matching requirement, up to the available balance authorized by this Act.
If the Hawaii technology development corporation does not receive a qualifying federal award during the fiscal period, no allocation shall be made.
SECTION 6. New statutory material is underscored.
SECTION 7. This Act shall take effect on July 1, 2026.
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INTRODUCED BY: |
_____________________________ |
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Report Title:
HTDC; Hawaii Technology Development Corporation Revolving Fund; Federal Grants; Appropriation
Description:
Establishes the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants. Appropriates funds.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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Date
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Status
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| Mar 24, 2026 | Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. |
| Mar 24, 2026 | Reported from EDT (Stand. Com. Rep. No. 3147) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM. |
| Mar 17, 2026 | The committee(s) on EDT recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in EDT were as follows: 3 Aye(s): Senator(s) DeCoite, Wakai, Fukunaga; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Kim, Fevella. |
| Mar 13, 2026 | The committee(s) on EDT has scheduled a public hearing on 03-17-26 1:00PM; Conference Room 229 & Videoconference. |
| Mar 10, 2026 | Referred to EDT, WAM. |
| Mar 6, 2026 | Passed First Reading. |
| Mar 6, 2026 | Received from House (Hse. Com. No. 28). |
| Mar 5, 2026 | Passed Third Reading with Representative(s) Iwamoto voting aye with reservations; none voting no (0) and Representative(s) Perruso excused (1). Transmitted to Senate. |
| Mar 5, 2026 | Reported from FIN (Stand. Com. Rep. No. 768-26), recommending passage on Third Reading. |
| Mar 2, 2026 | The committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 16 Ayes: Representative(s) Todd, Takenouchi, Hartsfield, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lee, M., Miyake, Morikawa, Perruso, Templo, Yamashita, Alcos, Gedeon, Reyes Oda; Ayes with reservations: none; Noes: none; and Excused: none. |
| Feb 27, 2026 | Bill scheduled to be heard by FIN on Monday, 03-02-26 2:00PM in House conference room 308 VIA VIDEOCONFERENCE. |
| Feb 17, 2026 | Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Lee, M., Poepoe excused (3). |
| Feb 17, 2026 | Reported from ECD (Stand. Com. Rep. No. 287-26) as amended in HD 1, recommending passage on Second Reading and referral to FIN. |
| Feb 4, 2026 | The committee on ECD recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Ilagan, Hussey, Holt, Tam, Templo, Yamashita, Gedeon; Ayes with reservations: none; Noes: none; and Excused: none. |
| Jan 30, 2026 | Bill scheduled to be heard by ECD on Wednesday, 02-04-26 10:00AM in House conference room 423 VIA VIDEOCONFERENCE. |
| Jan 26, 2026 | Referred to ECD, FIN, referral sheet 1 |
| Jan 21, 2026 | Introduced and Pass First Reading. |
| Jan 16, 2026 | Prefiled. |
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Date
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Description
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Location
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Votes
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| Mar 17, 2026 | The committee(s) on EDT recommend(s) that the measure be PASSED, WITH AMENDMENTS | Senate Standing Committee on Economic Development and Tourism |
Passed |
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| Mar 5, 2026 | Third Reading | House Floor |
Passed |
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| Mar 2, 2026 | The committee on FIN recommend that the measure be PASSED, UNAMENDED | House Standing Committee on Finance |
Passed |
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| Feb 4, 2026 | The committee on ECD recommend that the measure be PASSED, WITH AMENDMENTS | House Standing Committee on Economic Development & Technology |
Passed |
This list shows positions taken on this bill by organizations on the date displayed, which is linked to the original source.
Positions by individuals are not included.
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Organization
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Position
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Date
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| Ai.Fish | ** Support | |
| Black Sand Solutions LLC | ** Support | |
| Chamber of Commerce Hawaii | *** Support | Mar 17, 2026 |
| Hawaii Food Industry Association | *** Support | Mar 17, 2026 |
| Hawaii Ocean Power Solutions | ** Support | |
| Hawaii Ocean Power Solutions (HOPS) | *** Support | Mar 3, 2026 |
| Hawaiʻi Farm Bureau | *** Support | Mar 17, 2026 |
| Hawai‘i Farm Bureau | *** Support | Mar 3, 2026 |
| Hawai’i Technology Development Corporation | *** Support | Mar 17, 2026 |
| Hidden Gears LLC | ** Support | |
| Makai Ocean Engineering, Inc. | *** Support | Mar 17, 2026 |
| Nalu Scientific, LLC | *** Support | Mar 3, 2026 |
| Namaka Algae, Inc. | ** Support | |
| NeuroMuse LLC | ** Support | |
| Simonpietri Enterprises LLC | *** Support | Mar 17, 2026 |
| Small Kine Farm | ** Support | |
| The Maritime Group | ** Support | |
| The Maritime Group | *** Support | Mar 17, 2026 |
STAND. COM. REP. NO. 768-26
Honolulu, Hawaii
, 2026
RE: H.B. No. 1614
H.D. 1
Honorable Nadine K. Nakamura
Speaker, House of Representatives
Thirty-Third State Legislature
Regular Session of 2026
State of Hawaii
Madame:
Your Committee on Finance, to which was referred H.B. No. 1614, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"
begs leave to report as follows:
The purpose of this measure is to:
(1) Establish the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants; and
(2) Appropriate funds into and out of the Revolving Fund.
Your Committee received testimony in support of this measure from the Hawaiʻi Technology Development Corporation; Chamber of Commerce Hawaii; Hawaiʻi Farm Bureau; Hawaii Food Industry Association; Small Kine Farm; Hidden Gears LLC; Ai.Fish; The Maritime Group; Namaka Algae, Inc.; Black Sand Solutions LLC; Simonpietri Enterprises LLC; NeuroMuse LLC; and Hawaii Ocean Power Solutions.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1614, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ CHRIS TODD, Chair |
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STAND. COM. REP. NO. 287-26
Honolulu, Hawaii
, 2026
RE: H.B. No. 1614
H.D. 1
Honorable Nadine K. Nakamura
Speaker, House of Representatives
Thirty-Third State Legislature
Regular Session of 2026
State of Hawaii
Madame:
Your Committee on Economic Development & Technology, to which was referred H.B. No. 1614 entitled:
"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"
begs leave to report as follows:
The purpose of this measure is to:
(1) Establish the Hawaii Technology Development Corporation Revolving Fund for the purpose of financing the State's matching contributions required by federal grants; and
(2) Appropriate funds into and out of the Revolving Fund.
Your Committee received testimony in support of this measure from the Hawaii Food Industry Association; Hawaiʻi Farm Bureau; Chamber of Commerce Hawaii; and Simonpietri Enterprises LLC. Your Committee received comments on this measure from the Hawaiʻi Technology Development Corporation.
Your Committee finds that the Hawaii Technology Development Corporation plays a critical role in attracting federal investment and creating partnerships with federal agencies, universities, and local businesses. Your Committee further finds that many federal grants require state matching funds and that there is a need to ensure consistent and predictable access to these state funds so that Hawaii does not risk forfeiting significant federal funding. This measure ensures that the Hawaii Technology Development Corporation has access to funding necessary to finance State matching contributions.
Your Committee has amended this measure by:
(1) Specifying that a priority for revolving fund monies shall be afforded to federal grants that leverage state funds at a ratio of at least one to five and proposals that are projected to generate state revenues;
(2) Changing the appropriation into and out of the Hawaii Technology Development Corporation Revolving Fund to an unspecified amount;
(3) Changing the effective date to July 1, 3000, to encourage further discussion; and
(4) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.
Your Committee respectfully requests your Committee on
Finance, should it deliberate on this measure, to consider an
appropriation amount of $10,000,000.
As affirmed by the record of votes of the members of your Committee on Economic Development & Technology that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1614, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1614, H.D. 1, and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Economic Development & Technology,
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____________________________ GREGGOR ILAGAN, Chair |
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Date
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Testimony PDF
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|---|---|
| Mar 17, 2026 | HB1614_HD1_TESTIMONY_EDT_03-17-26_.PDF |
| Mar 3, 2026 | HB1614_HD1_TESTIMONY_FIN_03-02-26_.PDF |
| Feb 4, 2026 | HB1614_TESTIMONY_ECD-TOU_02-04-26_.PDF |
Discussed in Hearing
1MIN
Senate Standing Committee on Economic Development and Tourism
21SEC
Senate Standing Committee on Economic Development and Tourism
1MIN
House Floor
2MIN
House Standing Committee on Finance
53SEC
House Standing Committee on Tourism
53SEC
House Standing Committee on Economic Development & Technology
1MIN
House Standing Committee on Tourism
1MIN
