Report Title:

UH; Felix Stipend Revolving Fund

Description:

Creates a revolving fund for the collection of stipend repayments for University of Hawaii students in breach of the Felix consent decree memorandum and provides funding for stipends for other students under the Felix consent decree memorandum.  (SD1)

THE SENATE	S.B. NO.	80
TWENTY-FOURTH LEGISLATURE, 2007		S.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO EDUCATION.

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

     SECTION 1.  The purpose of this Act is to create a revolving fund for the collection of stipend repayments for University of Hawaii students' breach of the Felix consent decree recruitment and retention program agreement with the department of education.

     SECTION 2.  Chapter 302A, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§302A-   Felix stipend revolving fund. (a)  There is established the Felix stipend revolving fund into which shall be deposited all moneys, received as repayment due to a break in the contractual agreement between the student and the department under its Felix consent decree recruitment and retention program.

(b)  The revolving fund shall be used by the department to provide for the ongoing funding of stipends pursuant to contractual agreements between students and the department under its Felix consent decree recruitment and retention program, or any successor programs."

     SECTION 3.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect on July 1, 2007.