HI HB1188

Amends Hawaii Revised Statutes section 328L-2(b) to change the allocation method for tobacco settlement funds from percentage-based to dollar amount allocations.

Replaces the previous percentage allocations (24.5%, 35%, 12.5%, and 28%) with specific dollar amounts to be filled in for the emergency and budget reserve fund, department purposes, Hawaii tobacco prevention and control trust fund, and university revenue-undertakings fund.

Allows the University of Hawaii medical school facility to use allocated funds for annual operating expenses in addition to debt service on revenue bonds.

Directs any excess moneys allocated to the university medical school fund to be transferred to the general fund instead of split between the emergency reserve fund and tobacco prevention fund.

Takes effect July 1, 2015.