HI HB315

Increases annual expenditure cap from $3,000,000 to $6,000,000 for University of Hawaii System expenditures from the University of Hawaii tuition and fees special fund for the University of Hawaii Foundation.

Expenditures must be for promoting alumni relations and generating private donations for the Foundation and are exempt from procurement and contracting law (chapters 42F, 103, 103D, and 103F).

Requires University of Hawaii to submit comprehensive annual reports to the legislature no later than twenty days before each regular legislative session detailing fund usage.

Reports must include: departments supported, purposes and fundraising activities, total expenditures by category, fund transfers to university accounts, financial summary of Foundation operations, and all expenditures from the University of Hawaii support fund.

Takes effect on July 1, 2050.