HI HB952

Establishes a Public School Lands Trust Commission to manage state department of education lands and generate revenue through redevelopment of underused school properties for public school facility improvements.

Transfers all public school trust lands to the new trust, with county-held school lands to be transferred to the trust by July 1, 2013, and creates an eight-member commission with representatives from each county and members with real estate, appraisal, teaching, and administrative experience.

Authorizes the commission to identify excess and underused school lands, develop redevelopment plans, and sell lands only for single-family residential use (requiring two-thirds commission approval) or lease/permit underutilized properties, with sales limited to highest and best use determinations.

Directs all redevelopment proceeds into the School Facilities Special Fund for constructing and improving public school facilities, with up to 20 percent allocated for repairs and maintenance and no more than 5 percent for normal school expenditures; sale proceeds go to a separate Public School Lands Trust Permanent Fund with interest deposited to the special fund.

Becomes effective July 1, 2030.