HI HB794

Creates the University of Hawaii Green Special Fund to collect and reinvest savings from energy conservation projects to support the university's net-zero energy goal.

Fund revenues include: energy conservation savings, investment earnings, gifts, rebates and grants, capital appropriations, existing energy conservation funds (until June 30, 2020), and proceeds from revenue bonds.

Fund moneys support energy efficiency, renewable energy, and sustainability projects including personnel, equipment, planning, design, and implementation costs; expenditures of $167,000 or more require legislative approval.

University of Hawaii Chief Financial Officer manages the fund and has authority to capture monetary savings from campus energy conservation projects.

University must submit annual report to legislature no later than twenty days before each regular session detailing how savings were calculated, revenues deposited, rebates/grants/incentives received, and any transferred funds.