REPORT TITLE:
University of Hawaii


DESCRIPTION:
Earmarks a portion of the general excise tax revenues for
University of Hawaii facilities improvement.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           2575
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE UNIVERSITY OF HAWAII FACILITIES IMPROVEMENTS
   SPECIAL FUND.



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

 1      SECTION 1.  The legislature finds and determines that the
 
 2 quality of public higher education in the State is related to the
 
 3 condition of University of Hawaii facilities.  The physical
 
 4 facilities used by the University of Hawaii provide the
 
 5 centerpiece around which all other educational activities exist.
 
 6 Adequate financing of repairs and maintenance is necessary to
 
 7 keep University of Hawaii campus facilities functional,
 
 8 architecturally sound, aesthetically pleasing, and in compliance
 
 9 with building and safety codes to support quality instruction,
 
10 research, student, and community service programs.  The
 
11 legislature finds and determines that it is in the best interest
 
12 of the State to earmark a portion of tax revenues for purposes of
 
13 repairing, maintaining, and improving the physical facilities
 
14 used by the University of Hawaii for public higher education.
 
15      SECTION 2.  Chapter 304, Hawaii Revised Statutes, is amended
 
16 by adding a new section to be appropriately designated and to
 
17 read as follows:
 
18      "304-    University of Hawaii facilities improvements
 

 


 

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                                     S.B. NO.           2575
                                                        
                                                        


 1 special fund.  There is established the University of Hawaii
 
 2 facilities improvements special fund, into which shall be
 
 3 deposited a portion of all general excise tax revenues collected
 
 4 by the department of taxation under section 237-31.  The special
 
 5 fund shall be used solely to manage, plan, design, repair,
 
 6 replace, maintain, renovate, and construct other related
 
 7 improvements to public higher education facilities under the
 
 8 management, control, and direction of the board of regents of the
 
 9 University of Hawaii.  Expenditures from the special fund shall
 
10 be limited to projects approved by the board of regents and shall
 
11 be subject to sections 37-31 and 37-33 to 37-40.  Appropriations
 
12 or authorizations from the special fund shall be expended by the
 
13 University of Hawaii."
 
14      SECTION 3.  Section 237-31, Hawaii Revised Statutes, is
 
15 amended to read as follows:
 
16      "237-31  Remittances.  All remittances of taxes imposed by
 
17 this chapter shall be made by money, bank draft, check, cashier's
 
18 check, money order, or certificate of deposit to the office of
 
19 the department of taxation to which the return was transmitted.
 
20 The department shall issue its receipts therefor to the taxpayer
 
21 and shall pay the moneys into the state treasury as a state
 
22 realization, to be kept and accounted for as provided by law;
 

 
Page 3                                                     
                                     S.B. NO.           2575
                                                        
                                                        


 1 provided that:
 
 2      (1)  The sum from all general excise tax revenues realized
 
 3           by the State that represents the difference between
 
 4           $45,000,000 and the proceeds from the sale of any
 
 5           general obligation bonds authorized for that fiscal
 
 6           year for the purposes of the state educational
 
 7           facilities improvement special fund shall be deposited
 
 8           in the state treasury in each fiscal year to the credit
 
 9           of the state educational facilities improvement special
 
10           fund;
 
11      (2)  A sum, not to exceed $5,000,000, from all general
 
12           excise tax revenues realized by the State shall be
 
13           deposited in the state treasury in each fiscal year to
 
14           the credit of the compound interest bond reserve fund;
 
15           [and]
 
16      (3)  A sum, not to exceed the amount necessary to meet the
 
17           obligations of the integrated tax information
 
18           management systems performance-based contract may be
 
19           retained and deposited in the state treasury to the
 
20           credit of the integrated tax information managements
 
21           systems special fund.  The sum retained by the director
 
22           of taxation for deposit to the integrated tax
 

 
 
 
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                                     S.B. NO.           2575
                                                        
                                                        


 1           information managements systems special fund for each
 
 2           fiscal year shall be limited to amounts appropriated by
 
 3           the legislature.  This paragraph shall be repealed on
 
 4           July 1, 2004[.]; and
 
 5      (4)  The sum from all general excise tax revenues realized
 
 6           by the State that represents the difference between
 
 7           $15,000,000 and the proceeds from the sale of any
 
 8           general obligation bonds authorized for that fiscal
 
 9           year for the purposes of the University of Hawaii
 
10           facilities improvement special fund shall be deposited
 
11           in the state treasury in each fiscal year to the credit
 
12           of the University of Hawaii facilities improvement
 
13           special fund."
 
14      SECTION 4.  Statutory material to be repealed is bracketed.
 
15 New statutory material is underscored.
 
16      SECTION 5.  This Act shall take effect on July 1, 2000.
 
17 
 
18                           INTRODUCED BY:  _______________________