Establishes a Hawaii economic diversification grant program for qualified high technology businesses.

This bill amends Hawaii Revised Statutes to create a Hawaii economic diversification grant program for qualified high technology businesses. It specifies that the Department of Business, Economic Development, and Tourism must maintain records and verify the nature of qualifying research activities and costs. The department must also report annually to the legislature on the effectiveness of the grants. The bill defines "qualified high technology business" as a small business conducting more than 50% of its activities in qualified research in the state.

Establishes a Hawaii economic diversification grant program for qualified high technology businesses.

This bill amends Hawaii Revised Statutes to create a Hawaii economic diversification grant program for qualified high technology businesses. It specifies that the Department of Business, Economic Development, and Tourism must maintain records and verify the nature of qualifying research activities and costs. The department must also report annually to the legislature on the effectiveness of the grants. The bill defines "qualified high technology business" as a small business conducting more than 50% of its activities in qualified research in the state.