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THE SENATE

S.B. NO.

1205

TWENTY-FIRST LEGISLATURE, 2001

 

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 to read as follows:

"§304-8.1 Research and training revolving fund. (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.

(b) The University of Hawaii shall prepare and submit an annual report on the status of the research and training revolving fund to the legislature twenty days before the convening of each regular session. The annual report shall include but not be limited to a breakdown of travel expenses.

(c) Notwithstanding sections 304-10, 304-8.92, and 304-8.96 to the contrary, the board of regents or its designee, may establish a separate account within the research and training revolving fund for the purpose of providing advance funding to meet reimbursable costs incurred in connection with federally financed research and training projects. Any reimbursement received as a result of providing advance funding shall be deposited into the research and training revolving fund to be used for the purpose of meeting reimbursable costs incurred in connection with federally financed projects.

(d) Revenues deposited into the fund shall not be used as a basis for reducing any current or future budget request or allotment to the University of Hawaii unless the university requests such a reduction."

SECTION 2. Section 304-8.92, Hawaii Revised Statues, is amended to read as follows:

"§304-8.92 Discoveries and inventions revolving fund. (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.

(b) The University of Hawaii shall provide an annual report to the governor and the legislature describing all transactions and activities involved in the administration of the discoveries and inventions revolving fund."

SECTION 3. Section 304-8.96, Hawaii Revised Statutes, is amended to read as follows:

"§304-8.96 University of Hawaii housing assistance revolving fund. (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.

(b) The University of Hawaii shall provide an annual report to the governor and the legislature describing all transactions and activities involved in the administration of the housing assistance revolving fund."

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 Statutory material to be repealed is bracketed.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

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

 

INTRODUCED BY:

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