Bill > HB1685

This bill re-establishes the Hawaii Office of Naval Research Grant Program for a two-year period to provide 50% matching grants to Hawaii businesses that have been awarded alternative energy research grants from the U.S. Department of Defense Office of Naval Research. It establishes the Alternative Energy Research and Development Revolving Fund to promote alternative energy research and development in Hawaii, and appropriates funds into and out of the revolving fund. The bill also declares that the appropriations exceed the state general fund expenditure ceiling for fiscal year 2024-2025, but are necessary to serve the public interest and meet the needs provided for by the bill.