Bill > SB1487

This bill authorizes the Board of Regents of the University of Hawaii to issue revenue bonds to finance capital improvement projects, with the approval of the governor. The bill recognizes the university's ongoing need to construct, renovate, and modernize facilities such as faculty and student housing, classrooms, laboratories, research facilities, libraries, and infrastructure. The revenue bonds will be issued under part VI of chapter 304A of Hawaii Revised Statutes, and their principal and interest will be paid solely from university revenue. The bill includes an appropriation of funds for fiscal year 2025-2026, with any unexpended funds allowed to carry over until June 30, 2030. The university is required to notify the legislature upon issuing these bonds and provide a detailed list of the projects to be funded. The bill aims to provide the University of Hawaii with financial flexibility to address its capital facility needs by allowing it to generate funds through revenue bonds, which are repaid through the university's own revenue streams rather than general state funds.

Budget and Finance, Education

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1487&year=2025