Bill > HB1168

This bill authorizes the Board of Regents of the University of Hawaii to issue up to $30,750,000 in revenue bonds to finance capital improvement projects, which may include faculty and student housing, classrooms, laboratories, research facilities, libraries, and other infrastructure needs. The bonds require gubernatorial approval and will be issued under existing state law, with principal and interest paid solely from university revenues. As a key condition, the bill mandates that students with financial need who qualify for resident tuition and live in university housing must receive financial assistance (such as a housing allowance or stipend) to help offset potential room and board cost increases resulting from the new debt service. The university is required to notify the legislature upon bond issuance and provide a detailed list of projects to be funded. The bill specifies that the bonds can be used for construction, maintenance, and modernization of university facilities, and any unexpended funds will not lapse until June 30, 2030. The legislation is set to take effect on July 1, 2025, demonstrating a forward-looking approach to addressing the University of Hawaii's infrastructure and student support needs.

Budget and Finance, Education

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1168&year=2025