Bill > SB1624

This bill requires the University of Hawaii's Board of Regents to strictly use funds designated for "renew, improve, and modernize" (RIM) projects only for their specific intended purposes, preventing these funds from being used for current, ongoing, or anticipated capital improvement projects. The legislation aims to ensure transparency and accountability in the use of public funds by mandating that the Board of Regents submit an annual report to the legislature detailing the RIM projects that received funding, no later than 30 days before the start of each regular legislative session. The bill modifies Section 304A-2672 of the Hawaii Revised Statutes to explicitly outline these new requirements, adding a provision that specifically prohibits the board from using RIM funds for other types of projects and requiring the annual reporting. The legislature's rationale for this bill is to promote the integrity of state infrastructure investments and ensure that maintenance and modernization of public facilities are appropriately prioritized. The bill is set to take effect on July 31, 2050, providing a long-term framework for the management of university facility improvement funds.

Budget and Finance, Education

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1624&year=2025