Repeals the education storeroom fund and transfers its balance to EDN 300.

A BILL FOR AN ACT

SECTION 1. Section 302A-1304, Hawaii Revised Statutes, is repealed.

["[§302A-1304] Department of education storeroom; revolving fund. There shall be a storeroom established by the department to provide schools a source for commonly used educational, office, and custodial supplies. There is established a revolving fund to be known as the "storeroom revolving fund", into which shall be deposited the receipts from charges made to schools for the supplies and cost of issuing the supplies from the storeroom and transfers from other accounts or funds. Receipts and transfers deposited into the storeroom revolving fund may be expended to purchase educational, office, and custodial supplies, and equipment and services needed to operate the storeroom. Balances in excess of $400,000 at the end of each fiscal year shall lapse into the general fund."]

SECTION 2. Any funds remaining in the storeroom revolving fund as of June 30, 2001, shall be transferred to EDN 300 to pay for encumbrances as of July 1, 2001.

SECTION 3. Statutory material to be repealed is bracketed and stricken.

SECTION 4. This Act shall take effect on July 1, 2001.