Chapter 206M — Chapter 206M

PART I. GENERAL PROVISIONS §206M-1 Definitions. As used in this chapter, unless the context clearly requires otherwise: "Board" means the board of directors of the development corporation established in section 206M-2, and any successor thereto. "Bonds" or "special purpose revenu…

§206M-10 Authorization for loans; loan terms and conditions; loan procedure. (a) Notwithstanding any law to the contrary, the director of finance is authorized, with the approval of the governor, to make loans up to the aggregate sum of $1,000,000, or so much thereof as may be ne…

§206M-11 Special purpose revenue bonds not a general or moral obligation of State. No holder or holders of special purpose revenue bonds issued under this chapter shall ever have the right to compel any exercise of the taxing power of the State to pay the bonds or the interest th…

§206M-12 Special purpose revenue bonds exempt from taxation. Special purpose revenue bonds and the income therefrom issued pursuant to this chapter shall be exempt from all state taxation, except inheritance, transfer, and estate taxes. [L 1983, c 152, pt of §2; am L 2000, c 72, …

§206M-13 Special purpose revenue bonds as legal investments and lawful security. The special purpose revenue bonds issued pursuant to this chapter shall be and are declared to be legal and authorized investments for banks, savings banks, trust companies, savings and loan associat…

§206M-14 Status of special purpose revenue bonds under the Uniform Commercial Code. Notwithstanding any of the provisions of this chapter or any recital in any special purpose revenue bond issued under this chapter, all such special purpose revenue bonds shall be deemed to be inv…

§206M-15 Technology research and development loans and grants. (a) All moneys necessary to carry out the purposes of this section shall be allocated by the legislature through appropriations out of the state general fund. The development corporation shall include in its budgetary…

§206M-15.2 Research and development program established. (a) There is established within the development corporation, the research and development program, to help Hawaii-based small businesses optimize research and development performed in Hawaii. (b) Subject to available funds,…

§206M-15.3 REPEALED. L Sp 2021, c 9, §33.

§206M-15.5 Technology special fund. There is established in the state treasury a fund to be known as the technology special fund, into which shall be deposited, except as otherwise provided by section 206M-17: provided that the total amount of moneys in the fund shall not exceed …

§206M-16 Exemption of development corporation from taxation and competitive bidding. (a) All revenues and receipts derived by the development corporation from any project or economic zone or under a project agreement or other agreement pertaining thereto shall be exempt from all …

§206M-17 Revenue bond fund accounts. The development corporation shall establish separate special funds in accordance with section 39-62 for the deposit of the proceeds of special purpose revenue bonds and special facility revenue bonds authorized under this part and [part III] r…

§206M-2 Establishment of the Hawaii technology development corporation; purpose. (a) There is established the Hawaii technology development corporation, which shall be a public body corporate and politic and an instrumentality and agency of the State. The development corporation …

§206M-2.5 Meetings of the board. (a) The meetings of the board shall be open to the public as provided in section 92-3, except that when it is necessary for the board to receive information that is proprietary to a particular enterprise that seeks entry into or use of one of its …

§206M-24 Sustainable aviation fuel program; established. (a) There is established the sustainable aviation fuel program, through which the development corporation may provide matching grants to any small business in the State that is developing products related to sustainable avi…

§206M-3 Powers, generally. (a) The development corporation shall have all the powers necessary to carry out its purposes, including the powers to: (b) The corporation shall be exempt from chapter 102. [L 1983, c 152, pt of §2; am L 1989, c 274, §3; am L 1991, c 288, §2; am L 2000…

PART II. HAWAII SOFTWARE SERVICE CENTER--REPEALED §§206M-31 to 206M-35 REPEALED. L 2017, c 69, §7.

§206M-4 Compliance with state and local law. The issuance of special purpose revenue bonds with respect to any project or economic zone under this chapter shall not relieve any qualified person or other user of the project or economic zone from the laws, ordinances, and rules of …

PART III. SPECIAL FACILITY REVENUE BONDS §206M-41 Definitions. As used in this part, unless the context clearly requires otherwise: "Special facility" means one or more buildings, structures, or facilities and the land thereof located in an economic zone for the technology indust…

§206M-42 Powers. In addition to any other powers granted to the development corporation by law, the development corporation may:

§206M-43 Findings and determinations for special facility leases. The development corporation shall not enter into any special facility lease unless the development corporation, at or prior to the entering into of the special facility lease, shall find and determine:

§206M-44 Special facility lease. (a) In addition to the conditions and terms set forth in this part, any special facility lease entered into by the development corporation shall at least contain provisions obligating the other party to the special facility lease: Any moneys recei…

§206M-45 Special facility revenue bonds. All special facility revenue bonds authorized to be issued under this part shall be issued pursuant to part III of chapter 39, except as follows:

§206M-5 Development rules. Whenever the proceeds of special purpose revenue bonds are used to finance the cost of an economic zone, the board shall adopt rules under chapter 91 to be followed during the course of the development of any economic zone, which are to be known as deve…

PART IV. HIGH TECHNOLOGY INNOVATION CORPORATION--REPEALED §§206M-51 to 206M-59 REPEALED. L 2012, c 240, §§6, 8.

§206M-6 Use of public lands. The governor may set aside available public lands to the development corporation for the purposes specified in this chapter; provided that the setting aside would not impair any covenant between the State or any department or board thereof and holders…

§206M-7 Conditions precedent to negotiating and entering into a project agreement. (a) The development corporation prior to entering into negotiations with respect to a project agreement or at any time during such negotiations shall require that as a condition to such negotiation…

§206M-8 Project agreement. (a) No special purpose revenue bonds shall be issued unless at the time of issuance the development corporation shall have entered into a project agreement with respect to the project or economic zone for the financing of which the special purpose reven…

§206M-9 Issuance of special purpose revenue bonds; bond anticipation notes; refunding bonds. (a) In addition to the other powers that it may have, the development corporation may issue special purpose revenue bonds to finance, in whole or in part, the costs of projects of, for, o…