HI HB2620

Allows University of Hawaii to retain up to 5 percent of general funds appropriated at the close of each fiscal year, excluding financing agreements under chapter 37D.

Carried-over funds become available in addition to the subsequent fiscal year's appropriation.

Prohibits use of retained funds as the sole basis for reducing the university's future budget requirements.

Requires University of Hawaii to submit an annual report to the legislature by December 1 each year detailing the status and amount of funds carried over.

Amends section 37-41 to designate the new carryover provision as an exception to the general rule that unexpended appropriations lapse and revert to the state treasury.