HI SB160

Establishes the University of Hawaii quasi-endowment trust fund to receive income from the university's endowment fund, with expenditures authorized for student financial aid, scholarships, and student support services as determined by the board of regents.

Reclassifies the Hawaii educator loan program special fund as a revolving fund, allowing loan repayments and related revenues to be retained and re-expended by the university rather than lapsing to the general fund.

Repeals nine non-general funds that no longer serve their original purposes: Hawaii medical education special fund, discoveries and inventions special fund, University of Hawaii alumni special fund, animal research farm special fund, Senator Hiram L. Fong scholarship program endowment, Senator Oren E. Long scholarship program endowment, Hawaii health corps revolving fund, and three administratively-established trust accounts.

Reclassifies the professional student exchange program special fund as a revolving fund to support program activities and enforce collection of delinquent obligations.

Repeals the career and technical training projects revolving fund for the University of Hawaii at Hilo and transfers all unencumbered balances from repealed funds to the state general fund effective July 1, 2015.