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HI HB692
Bill
Status
1/26/2015
Primary Sponsor
Kaniela Ing
Click for details
AI Summary
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Authorizes the Department of Education to implement crowdfunding as a financing method for specific school capital improvement projects.
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Establishes the school capital improvement project crowdfunding special fund to receive appropriations, donations via crowdfunding, and accrued interest.
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Requires crowdfunded moneys to be expended before general funds, bond revenues, or other public funds when partially funding a project.
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Defines crowdfunding as soliciting and receiving multiple monetary donations via the Internet that do not exceed $2,000 each.
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Requires the Department of Education to report annually to the director of finance and legislature on carryover balances in the special fund within prescribed timeframes.
Legislative Description
Crowdfunding; Schools; Capital Improvement Projects ($)
Last Action
Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and C. Lee excused (1).
2/12/2015