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.

THE SENATE	S.B. NO.	3128
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

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.

INTRODUCED BY:	_____________________________
	BY REQUEST