[ §206M-63] Hydrogen investment special fund.

135 words·~1 min read·/hi/206m-63

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)There shall be established the hydrogen investment special fund, into which shall be deposited:

(1)Appropriations made by the legislature to the fund;

(2)All contributions from public or private partners;

(3)All interest earned on or accrued to moneys deposited in the special fund; and

(4)Any other moneys made available to the special fund from other sources.

(b)Moneys in the fund shall be expended by the development corporation:

(1)To provide seed capital for and venture capital investments in private sector and federal projects for research, development, testing, and implementation of the Hawaii renewable hydrogen program, as set forth in section 196-10; and

(2)For any other purpose deemed necessary to carry out the purposes of section 196-10. [L 2019, c 56, pt of §2]