Hawaii · statute · Haw. Rev. Stat. ch. 206M · 61 active provisions
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 revenue bonds" mean bonds, notes, and other instruments of indebtedness of the State issued pu…
(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 shall be placed within the department of business, economic development, and tourism for administrative purposes, pursuan…
(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 facilities or the disclosure of which might be harmful to the business in…
(a) The development corporation shall have all the powers necessary to carry out its purposes, including the powers to: (1) Sue and be sued; (2) Have a seal and alter the same at its pleasure; (3) Make and execute, enter into, amend, supplement, and carry out contracts and all other instruments necessary or convenient…
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 corporation shall have the power to use all appropriations, grants, contractual reimbursements, and all other funds not appropriat…
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: (1) Increasing the awareness of the federal small business innovation research program and the number of companies submitting proposals to federal agencies; (2) Increas…
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 the State or any political subdivision thereof, or any department or board thereof wi…
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 development rules in connection with health, safety, building, planning…
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 of any bonds issued by the State or such department or board thereof…
(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 negotiations or the continuation thereof the State shall be reimbursed for any and all costs and expenses incurred by it even though a…
(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 revenue bonds are to be issued. Any project agreement entered into by th…
(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, or to loan the proceeds of the bonds to assist qualified persons. All revenue bonds issued under this chapter are special purpose reve…
(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 necessary, to the development corporation. The loans shall be made from the state general fund moneys which are in exce…
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 thereon and no moneys other than the revenues pledged to the bonds shall be applied to the payment thereof. Each special purp…
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.
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 be excluded from gross income for federal income tax purposes (except as certain…
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 associations, insurance companies, credit unions, fiduciaries, trustees, guardians, and for all public funds of the State or othe…
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 investment securities under the Uniform Commercial Code, chapter 490, subject only to the provisions of the special purpose rev…
(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 request for the upcoming fiscal period, the amounts necessary to effectuate the purposes of this secti…
(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 of the following items: (1) Purchasing of manufacturing equipment; (2) Training of employees on the u…
(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, the research and development program shall: (1) Apply funds to support product development, tech…
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: (1) Any appropriations or other funds required to be deposited by law; and (2) All moneys, fees, and equity from tenants, qualified persons, or ot…
(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 state and county taxation. Any right, title, and interest of the development corporation in any project or economic zone shal…
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] respectively. The development corporation shall have the right to appropriate,…
Every state or county agency may render services to the development corporation upon request of the development corporation.