Source: https://www.capitol.hawaii.gov/session2017/bills/HB847_CD1_.HTM
Timestamp: 2018-12-14 23:31:54
Document Index: 242427752

Matched Legal Cases: ['§304', '§304', '§304', '§304', '§304', '§304']

HB847 CD1.DOC
SECTION 1. The legislature finds that it is a matter of concern to promote the economic health and diversify workforce opportunities of the State. The legislature further finds that transforming ideas and concepts arising from basic and applied research conducted at the University of Hawaii, the sole public institution of higher education in this State, into commercially viable and sustainable products and businesses will contribute to economic health and workforce diversification. Commercialization of intellectual property created at or by the university thus achieves a public purpose and benefits the State.
Because a core function of the University of Hawaii is to conduct basic and applied research, the legislature further finds that the university is uniquely positioned to identify promising innovations and new discoveries arising from university research. For inventions that show commercial potential, the university can use the educational resources from its various professional schools, such as business, law, and engineering, to provide focused instruction, expert mentorship, practical guidance, and advanced training in business development. A systematic program of support in the early stages of commercialization is essential to ensure the viability of businesses and sustainable employment opportunities. The legislature further finds that education and instruction are integral components of the universityꞌs core mission, and applying university resources to support the commercialization of inventions and concepts is a proper use of public resources.
The legislature also finds that an impediment to the effective transformation of university innovation into commercial products and viable businesses is the lack of clear and express legal authority to frame and support the universityꞌs technology transfer programs. Lack of express statutory authority for these commercialization and technology transfer activities sponsored by the university creates business uncertainty that deters private interests from fully engaging in collaborative efforts promoted by the university. Lack of clear authority for any innovation or commercialization program within the university may also deter university faculty or students from seeking and actively participating in the program.
The purpose of this Act is to provide express statutory authority to enable and facilitate the deployment of university educational and instructional resources, university managerial and fiscal resources, and university personnel to promote the economic health and diversification of workforce opportunities in the State through the commercialization of inventions and discoveries generated by or at the university. The legislature finds that there is a public benefit when university resources are used for such purposes, and accordingly, other state laws, including the state code of ethics, should be construed, on balance, to effectuate the intent and public purposes of this Act.
§304A– Innovation and commercialization initiative program; implementation. In implementing the innovation and commercialization initiative program, the University of Hawaii may promote, sponsor, and participate in the transformation of the products of its research and instructional activities into viable economic enterprises, and may create, finance, and participate in organizations that contribute to the economic development and workforce diversification of the State using university research and university personnel. The university, without limitation, may:
(3) Enter into contracts and other appropriate arrangements with start-up ventures to provide loans, initial and expansion capital, and other forms of financial assistance;
(5) Provide advice, instruction, training, and technical and marketing assistance to support and promote the enterprises in which the university invests;
(6) Develop, coordinate, and deliver instruction, training, and outreach programs to build and maintain the capacity to sustain these economic enterprises;
(9) Organize, sponsor, and participate in conferences, workshops, seminars, and other educational activities relating to the formation and financial viability of businesses that use university research products or university personnel;
(16) Consistent with the purposes of the program, acquire, own, hold, dispose of, and encumber personal property of any nature, or any interest therein, either directly or through intermediate entities formed or established specifically for the program's purposes;
(18) Contract with other entities, public or private, for the provision of all or a portion of the services necessary for the management and operation of the program. The university may use all appropriations, grants, contractual reimbursements, and all other funds made available for the purposes of the program to pay for the proper general expenses of the program;
(20) Establish a risk management program appropriate to the activities of the program, which may include, among other components, the purchase of insurance, participation in the State's risk management program, or retention and management of risks;
(21) Appoint advisory committees as deemed necessary; and
§304A- University innovation and commercialization initiative special fund. (a) There is established the university innovation and commercialization initiative special fund into which shall be deposited, and shall not be considered part of the general fund, all funds consistent with the purposes of this subpart that are:
(b) Revenues deposited into the special fund may be expended by the University of Hawaii for all costs and expenses associated with the operation of the innovation and commercialization initiative program without regard to chapters 76, 78, 89, 102, 103, and 103D. Revenues not expended as provided in this section may be transferred to other university funds to be expended for the general benefit of the university.
§304A- Confidentiality of trade secrets; disclosure of financial information. Any documents or data made or received by the University of Hawaii under this subpart, to the extent that the material or data consist of trade secrets or confidential commercial or financial information that may be withheld from public disclosure under chapter 92F, shall not be publicly disclosed; provided that if the university purchases a qualified security, the non-confidential commercial and financial information regarding that security shall be a public record of the university. The board of regents, or any subcommittee of the board, may hold an executive session as provided in section 92-4 to discuss trade secrets or confidential commercial or financial information that may be withheld under chapter 92F.
§304A– Preservation of governmental immunity; full faith and credit. No contract, agreement, or statement made by the University of Hawaii pursuant to this subpart shall constitute an express or implied waiver by the university of its governmental or sovereign immunity as a public agency of the State, nor shall the contracts, agreements, or statements constitute an express or implied acceptance of liabilities in excess of liabilities allowable under applicable governmental immunity laws. No activity conducted by the university or agreement entered into pursuant to this subpart shall be deemed a pledge of the full faith and credit of the State.
§304A- Cooperation with the University of Hawaii by state agencies. Every state agency may render services to the University of Hawaii upon the university's request for any purpose related to this subpart.
§304A- Biennial report. No later than twenty days prior to the convening of the regular session of each odd-numbered year, the University of Hawaii shall submit a report to the legislature concerning:
(2) Coordinated efforts between the innovation and commercialization initiative program and other state agencies, including the high technology development corporation, the Hawaii strategic development corporation, and the Hawaii state energy office, to move the State's innovation goals forward, and to more efficiently and effectively utilize resources to achieve these outcomes."
SECTION 3. This Act shall take effect on July 1, 2017, and shall be repealed on June 30, 2021.
Establishes the Innovation and Commercialization Initiative Program to expressly give the University of Hawaii the legal authority to create, promote, and participate in new economic enterprises and expand workforce opportunities based on inventions and discoveries generated by or at the University. Repeals on June 30, 2021. (HB847 CD1)