HB62 Summary

• Reclassifies the community colleges special fund as a community colleges revolving fund to account for programs including off-campus, summer session, overseas, and study abroad programs.

• Repeals the University of Hawaii community services special fund (§304A-2156) and the professional student exchange program revolving fund (§304A-2277), with unencumbered balances lapsing to the general fund.

• Transfers expenditure authority for the conference center revolving fund from the dean of continuing education to the chancellor of the University of Hawaii at Hilo or designee, and requires quarterly legislative reporting on fund accounting.

• Reclassifies the university system bond and interest sinking fund revolving fund (administratively established in 2002) as a trust account.

• Takes effect July 1, 2060.