HI SB815

Establishes maintenance of effort provisions requiring Department of Education appropriations for the current fiscal year to be no less than the preceding fiscal year.

Creates a Public Education Stabilization Trust Fund to receive deposits equal to the difference between current and prior year appropriations when funding decreases.

Allows temporary suspension of maintenance of effort requirements through joint declaration by the governor and legislature for emergencies, natural disasters, or enrollment declines exceeding 10 percent.

Appropriates unspecified amounts from general revenues to the trust fund for fiscal year 2021-2022 and equal amounts from the trust fund for fiscal years 2021-2022 and 2022-2023 to maintain K-12 education programs.

Takes effect July 1, 2051, except appropriation provisions take effect July 1, 2021.