RELATING TO ENERGY.

Authorizes the Hawaiʻi Technology Development Corporation to establish a two-year Hawaiʻi Office of Naval Research Grant Program to provide 50% matching grants to Hawaiʻi awardees of alternative energy research grants from the United States Department of Defense Office of Naval Research. Requires the Department of Business, Economic Development, and Tourism to adopt administrative rules to implement the Hawaiʻi Office of Naval Research Grant Program. Establishes the Alternative Energy Research and Development Revolving Fund. Declares that the general fund expenditure ceiling is exceeded. Makes an appropriation.