HI SB2425

Renames the Hawaii 3R's school repair and maintenance fund to the Hawaii 3R's school improvement fund.

Requires the department to transfer all moneys collected under section 235-102.5(b) (tax return checkoff donations) and grants/donations for school improvements to the Hawaii 3R's school improvement fund.

Designates the Hawaii 3R's fund as a restricted fund and clarifies that moneys may be expended as grants or contracts for improvement of public schools and benefit of students.

Specifies that the fund shall not be placed in the state treasury and the State shall not administer or be liable for the fund's operation or solvency.

Effective date: July 1, 2050.