Title 13, Planning And Economic Development

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-12.5] Federal tax-exempt status. Special purpose revenue bonds issued pursuant to this chapter, to the extent practicable, shall be issued to comply with requirements imposed by applicable federal law providing that the interest on the special purpose revenue bonds shall b…

§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-15.1] Manufacturing development program; established. (a) There is established the manufacturing development program, through which the development corporation may provide grants to any business in Hawaii that is a manufacturer in the State and requires assistance for any …

§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-15.5 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-18] Assistance by state and county agencies. Every state or county agency may render services to the development corporation upon request of the development corporation. [L 1983, c 152, pt of §2]

[§206M-19] Court proceedings; preferences. Any action or proceeding to which the development corporation, the State, or a county may be party, in which any question arises as to the validity of this chapter, shall be preferred over all other civil causes, except election cases, w…

§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-20] Construction of this chapter. The powers conferred by this chapter shall be in addition and supplemental to other powers conferred by any other law. This chapter shall constitute and be enabling legislation for the development corporation, as an agency and instrumental…

[§206M-21] Confidentiality of trade secrets or the like; disclosure of financial information. (a) Notwithstanding chapters 92, 92F, or any other law to the contrary, any documents or data made or received by any member or employee of the corporation shall not be a public record t…

[§206M-22] Limitation on liability. Chapters 661 and 662 or any other law to the contrary notwithstanding, nothing in this chapter shall create an obligation, debt, claim, cause of action, claim for relief, charge, or any other liability of any kind whatsoever in favor of any per…

§206M-23 Hydrogen implementation coordinator. (a) The director of the Hawaii center for advanced transportation technologies of the development corporation shall serve as the state hydrogen implementation coordinator. (b) The state hydrogen implementation coordinator, under the d…

§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…

[§206M-3.4] Contracts for services necessary for management and operation of corporation. The corporation may contract with others, public or private persons, for the provision of all or a portion of the services necessary for the management and operation of the corporation. The …

[§206M-3.5] Annual reports. The development corporation shall report annually to the legislature twenty days prior to the convening of the session on the impact of the program on:

§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…

§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…

[Part V.] STRATEGIC DEVELOPMENT programs A. General Provisions [§206M-61] Strategic development programs; purpose; powers. The purpose of the strategic development programs is to encourage economic development and diversification in Hawaii through innovative actions in cooperatio…

[§206M-62] Strategic development programs revolving fund. There is established the strategic development programs revolving fund. The following moneys shall be deposited into the strategic development programs revolving fund and shall not be considered part of the general fund: a…

[§206M-63] Hydrogen investment special fund. (a) There shall be established the hydrogen investment special fund, into which shall be deposited: (b) Moneys in the fund shall be expended by the development corporation:

[§206M-64] Contracts for services necessary for management and operation of the strategic development programs. The development corporation may contract with others, public or private, for the provision of all or a portion of the services necessary for the management and operatio…

[§206M-65] Actions of the development corporation; guidelines. (a) All actions taken by the development corporation shall be necessary to achieve the purposes and objectives of this part. The development corporation shall evaluate all programs after three years to determine their…

[§206M-66] Business and industry evaluation and priorities for job opportunity and economic development. The development corporation shall develop procedures to set priorities as to which types of businesses and industries are most likely to provide significant opportunities for …

[§206M-67] Confidentiality of trade secrets or the like; disclosure of financial information. Notwithstanding chapter 92, 92F, or any other law to the contrary, any documents or data made or received by any member or employee of the development corporation under this part, to the…

[§206M-68] Requests for assistance from the development corporation; procedure. (a) The board shall approve or disapprove requests for assistance within ninety days of receiving a written application under this part. Upon written request by an applicant, the board may reconsider …

[§206M-69] Private sector financial support. Significant private sector financial support shall be associated with any economic development project for which the development corporation provides assistance under this part. [L 2019, c 56, pt of §2]

§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-70] Limitations on debt owed to the development corporation. Not more than $5,000,000 in financial assistance, excluding rights and royalties under a venture capital agreement, shall be provided to any one enterprise at any time under this part. The direct investments of t…

[§206M-71] Limitation on liability. Chapters 661 and 662 or any other law to the contrary notwithstanding, nothing in this part shall create an obligation, debt, claim, cause of action, claim for relief, charge, or any other liability of any kind whatsoever in favor of any person…

[§206M-72] HI growth initiative; report to legislature. The development corporation shall submit an annual report to the legislature no later than twenty days prior to the convening of a regular session on the specific annual outcome achieved through the activities and expenditur…

[§206M-73] Annual audit. The books and records of the strategic development programs shall be subject to an annual audit by an independent auditor. [L 2019, c 56, pt of §2]

B. Program for Seed Capital Assistance [§206M-74] Establishment. The development corporation shall establish a program for seed capital assistance. [L 2019, c 56, pt of §2]

[§206M-75] Seed capital investments. Subject to this subpart, the development corporation may invest in:

[§206M-76] Purposes and terms of investments. (a) Investments may be used for any purpose consistent with the purposes and objectives of this part, including but not limited to: (b) Investments may be made on such terms and conditions as the development corporation shall determin…