REPORT TITLE:
Higher Ed


DESCRIPTION:
Authorizes the board of regents to set the portions of the total
indirect overhead funds that are deposited in the University of
Hawaii discoveries and inventions revolving fund and the
University of Hawaii housing assistance revolving fund.  (HB2070
HD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        2070
HOUSE OF REPRESENTATIVES                H.B. NO.           H.D. 1
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO HIGHER EDUCATION.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 304-8.92, Hawaii Revised Statutes, is
 
 2 amended by amending subsection (a) to read as follows:
 
 3      "(a)  There is established a discoveries and inventions
 
 4 revolving fund into which shall be deposited [four per cent of
 
 5 the total] indirect overhead funds generated by the university
 
 6 for research and training purposes in the prior fiscal year[.] in
 
 7 an amount to be determined by the board of regents.
 
 8 Appropriations by the state legislature subject to the approval
 
 9 of the governor, proceeds from the commercial exploitation of
 
10 inventions and intellectual property developed at the university,
 
11 gifts, donations, fees collected, and grants from public agencies
 
12 and private persons may also be deposited into the fund for the
 
13 purposes of supporting innovation and research commercialization
 
14 and the patenting, copyrighting, licensing, and marketing of
 
15 discoveries, inventions, and technologies developed at the
 
16 university.  The fund shall be used to develop technologies which
 
17 have potential commercial value, support the administration of
 
18 technology transfer activities, and facilitate economic
 
19 development through education and research undertaken at the
 

 
Page 2                                                     2070
                                     H.B. NO.           H.D. 1
                                                        
                                                        

 
 1 university."
 
 2      SECTION 2.  Section 304-8.96, Hawaii Revised Statutes, is
 
 3 amended by amending subsection (a) to read as follows:
 
 4      "(a)  There is established a housing assistance revolving
 
 5 fund into which shall be deposited [twelve per cent of the total]
 
 6 indirect overhead funds generated by the university for research
 
 7 and training purposes in the prior fiscal year[.] in an amount to
 
 8 be determined by the board of regents.  The fund shall be used
 
 9 to:
 
10      (1)  Implement the University of Hawaii housing assistance
 
11           master plan, in accordance with policies adopted by the
 
12           board of regents; and
 
13      (2)  Account for all transactions of the university housing
 
14           assistance program, including but not limited to
 
15           revenues, expenditures, loans, and transfers."
 
16      SECTION 3.  Statutory material to be repealed is bracketed.
 
17 New statutory material is underscored.
 
18      SECTION 4.  This Act shall take effect on July 1, 2001.