Report Title:

UH; Revenue Expenditures

 

Description:

Gives the University of Hawaii flexibility in the allocation of funds among specified revolving funds. (SD1)

 

THE SENATE

S.B. NO.

1205

TWENTY-FIRST LEGISLATURE, 2001

S.D. 1

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 304-8.1, Hawaii Revised Statues, is amended by amending subsection (a) to read as follows:

"(a) There is established a University of Hawaii research and training revolving fund into which shall be deposited one hundred per cent of the total amount of indirect overhead revenues generated by the university from research and training programs. The board of regents of the University of Hawaii is authorized to expend [eighty-four] one hundred per cent of the revenues deposited in the fund for:

(1) Research and training purposes which may result in additional research and training grants and contracts; [and]

(2) Facilitating research and training at the university[.]; and

(3) Further deposit into the discoveries and inventions revolving fund and the University of Hawaii housing assistance revolving fund."

SECTION 2. Section 304-8.92, Hawaii Revised Statues, is amended by amending subsection (a) to read as follows:

"(a) There is established a discoveries and inventions revolving fund into which shall be deposited [four per cent] a portion of the total indirect overhead funds generated by the university for research and training purposes in the prior fiscal year[.] as determined by the board of regents. Appropriations by the [state] legislature subject to the approval of the governor, proceeds from the commercial exploitation of inventions and intellectual property developed at the university, gifts, donations, fees collected, and grants from public agencies and private persons may also be deposited into the fund for the purposes of supporting innovation and research commercialization and the patenting, copyrighting, licensing, and marketing of discoveries, inventions, and technologies developed at the university. The fund shall be used to develop technologies which have potential commercial value, support the administration of technology transfer activities, and facilitate economic development through education and research undertaken at the university."

SECTION 3. Section 304-8.96, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) There is established a housing assistance revolving fund into which shall be deposited [twelve per cent] a portion of the total indirect overhead funds generated by the university for research and training purposes in the prior fiscal year[.] as determined by the board of regents. The fund shall be used to:

(1) Implement the University of Hawaii housing assistance master plan, in accordance with policies adopted by the board of regents; and

(2) Account for all transactions of the university housing assistance program, including but not limited to revenues, expenditures, loans, and transfers."

SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 5. This Act shall take effect upon its approval.