Representative Jon Riki Karamatsu
Floor Remarks
House Bill 3060, H.D. 1, S.D. 2, C.D. 1
May 4, 2006
I rise in support.
The purpose of this bill is to encourage small companies and researchers at nonprofit research institutes to work together in moving laboratory-developed technologies to the marketplace and to foster technology-based economic development.
This measure authorizes the High Technology Development Corporation (HTDC) to provide grants to local businesses that receive a federal Small Business Technology Transfer Program award or grant or apply for a Small Business Innovation Research federal grant or Small Business Technology Transfer Program federal grant. It also appropriates funds to HTDC to increase the funding levels necessary to meet the current needs of the Hawaii Small Business Technology Transfer Grant Program and Phase 0 Competition Assistance Program.
Further, the High Technology Innovation Corporation (HTIC) will be allowed to establish operational bank accounts in out-of-state locations, including foreign denomination accounts, until June 30, 2011. Moreover, HTIC will be exempted from Chapter 36, Hawaii Revised Statutes (HRS), relating to the management of state funds, and Chapter 38, HRS, relating to deposits of public funds.
HTDC and HTIC have played a big role in developing Hawaii's technology and science industries. This bill will help these agencies expand their influential role.
Thank you.
JON RIKI KARAMATSU 