Report Title:
University of Hawaii; Commercial Enterprise
Description:
Authorizes the transfer of all University funds with the exception of general funds, into the University of Hawaii Commercial Enterprise Revolving Fund.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
3206 |
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TWENTY-FOURTH LEGISLATURE, 2008 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE UNIVERSITY OF HAWAII.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 304A-2251, Hawaii Revised Statutes, is amended to read as follows:
"[[] §304A-2251[]] University of Hawaii commercial enterprises revolving fund. There is established the University of Hawaii commercial enterprises revolving fund into which shall be deposited
all revenues derived from the operation of commercial enterprises by university
programs. Revenues deposited into this account may be expended by the
university for all costs and expenses associated with the operation of the
enterprises, including hiring personnel, renovating commercial space, and
purchasing merchandise, supplies, and equipment, without regard to chapters 76,
78, 89, 103, and 103D. Any law to the contrary notwithstanding, the
university may transfer all funds at its disposal, with the exception of
general funds, into this revolving fund to finance the establishment of new
enterprises. Revenues not expended as provided in this section may be
transferred to other university funds to be expended for the general benefit of
the university."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2008.
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INTRODUCED BY: |
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BY REQUEST
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