HI HB988

Repeals University of Hawaii community services special fund, finding it does not meet criteria for a special fund.

Reclassifies Hawaii educator loan program from special fund to revolving fund, allowing loan repayments and interest to remain in the fund rather than lapsing to general fund.

Reclassifies community colleges special fund to community colleges revolving fund to account for tuition, fees, and various student-related charges.

Repeals eight additional University of Hawaii special funds including Hawaii medical education special fund, discoveries and inventions special fund, alumni special fund, and various other accounts deemed unnecessary or obsolete.

Transfers unencumbered balances from reclassified funds to new revolving funds on July 1, 2015, with remaining balances from repealed funds lapsing to general fund.