HB1176

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

The bill establishes a Hawaii economic diversification grant program for qualified high technology businesses. These businesses must conduct more than 50% of their activities in qualified research within the state and be registered to do business in Hawaii. The Department of Business, Economic Development, and Tourism will certify grants for qualified research activities, subject to a $10 million annual cap. Businesses must submit an annual survey and a written, certified statement identifying qualified expenditures and grants claimed.