Hawaii Revised Statutes 211f. Hawaii Strategic Development Corporation
PART I. GENERAL PROVISIONS
- 211f-1 Definitions.
As used in this chapter: "Board" means the board of directors of the Hawaii strategic development corporation. "Corporation" means the Hawaii strategic development corporation,...
- 211f-2 Establishment of Hawaii Strategic Development Corporation; Purpose.
(a) There is established the Hawaii strategic development corporation, which shall be a public body corporate and politic and an instrumentality and agency of...
- 211f-3 Board of Directors; Composition.
(a) The governing body of the corporation shall be a board of directors consisting of twelve members to be appointed by the governor for...
- 211f-4 Powers of Corporation.
(a) The corporation shall have all of the powers necessary to carry out its purposes which shall include but not be limited to the...
- 211f-5 Hawaii Strategic Development Corporation Revolving Fund.
There is established the Hawaii strategic development corporation revolving fund. The following moneys shall be deposited into the Hawaii strategic development corporation revolving fund...
- 211f-5.5 Repealed.
L 2015, c 144, §3.
- 211f-5.7 Hydrogen Investment Capital Special Fund.
(a) There shall be established the hydrogen investment capital special fund, into which shall be deposited: (1) Appropriations made by the legislature to the fund;...
- 211f-6 Contracts for Services Necessary for Management and Operation of Corporation.
The corporation may contract with others, public or private, for the provision of all or a portion of the services necessary for the management and...
- 211f-7 Actions of Corporation; Guidelines.
(a) All actions taken by the corporation shall be necessary to achieve the purposes and objectives of this chapter. The corporation shall evaluate all...
- 211f-8 Business and Industry Evaluation and Priorities for Job Opportunity and Economic Development.
The corporation shall develop procedures to set priorities as to which types of businesses and industries are most likely to provide significant opportunities for...
- 211f-9 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...
- 211f-10 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...
- 211f-11 Requests for Assistance From Corporation; Procedure.
(a) The board shall approve or disapprove requests for assistance within ninety days of receiving a written application. Upon written request by an applicant,...
- 211f-12 Private Sector Financial Support.
Significant private sector financial support shall be associated with any economic development project for which the corporation provides assistance. [L 1990, c 110, pt...
- 211f-13 Limitations on Debt Owed to 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...
- 211f-14 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...
- 211f-15 Annual Report.
The corporation shall submit a complete and detailed report of the corporation's activities to the legislature. The report shall be submitted not later than...
- 211f-15.5 Hi Growth Initiative; Report to Legislature.
The corporation shall submit a report to the legislature no later than twenty days prior to the convening of the regular session of 2014 and...
- 211f-16 Annual Audit.
The books and records of the corporation shall be subject to an annual audit by an independent auditor. [L 1990, c 110, pt of
- 211f-17 Cooperation With Corporation by State Agencies.
Every state agency may render services to the corporation upon request of the corporation. [L 1990, c 110, pt of §3]
- 211f-18 Construction of Chapter.
This chapter shall be liberally construed to effect its purposes. [L 1990, c 110, pt of §3]
PART II. PROGRAM FOR SEED CAPITAL ASSISTANCE
- 211f-21 Establishment.
The corporation shall establish a program for seed capital assistance. [L 1990, c 110, pt of §3]
- 211f-22 Seed Capital Investments.
Subject to this chapter, the corporation may invest in: (1) A certified development company under sections 501 to 503 of the Small Business Investment Act...
- 211f-23 Purposes and Terms of Investments.
(a) Investments may be used for any purpose consistent with the purposes and objectives of this chapter, including but not limited to: (1) Developing...
PART III. PROGRAM FOR VENTURE CAPITAL ASSISTANCE
PART IV. PROGRAM FOR CAPITAL ACCESS
- 211f-41 Establishment.
The corporation shall establish a program for capital access. [L 1990, c 110, pt of §3]
- 211f-42 Financial Assistance.
The corporation, through the program for capital access, may: (1) Procure insurance, a guarantee, or a letter of credit from any source for all...
- 211f-43 Purposes and Priorities Required in the Procuring of Insurance, Loan Guarantees, or Letters of Credit.
(a) Insurance, guarantees, or letters of credit procured pursuant to section 211F-42 shall be procured only for economic development projects within the State that...
- 211f-44 Conditions for Procuring of Insurance, Loan Guarantees, or Letters of Credit.
(a) Insurance, guarantees, or letters of credit shall not be procured pursuant to section 211F-42 unless the corporation is assured that the loans, debentures,...
- 211f-45 Program for Capital Access Participation Agreements.
The corporation shall enter into agreements with lenders for participation in the program for capital access that shall include but not be limited to:...
- 211f-46 Establishment of Special Funds to Secure Loan Insurance Obligations; Source of Funds.
The corporation may establish a special fund or funds for capital access into which fees or premiums collected by the corporation are deposited. [L...
PART V. HAWAII TECHNOLOGY INVESTMENT PROGRAM
- 211f-51 Definitions.
As used in this part: "Biotechnology" means fundamental knowledge regarding the function of biological systems from the macro level to the molecular subatomic levels...
- 211f-52 Formation of Hawaii Technology Investment Program.
(a) The corporation shall establish the Hawaii technology investment program for the purpose of allowing individual investors to contribute to the program to invest...
- 211f-53 Limitation of Liability.
In no case shall the corporation, officers or employees of the corporation, or the State be liable for the monetary losses of individuals contributing to...
Last modified: October 27, 2016