HI HB755

Amends Section 103-8.5, Hawaii Revised Statutes to clarify that the one percent transfer requirement to the works of art special fund applies only to capital improvement appropriations designated for construction or renovation of state buildings.

Adds two exemptions from the one percent transfer requirement: appropriations from the passenger facility charge special fund (Section 261-5.5) and the rental motor vehicle customer facility charge special fund (Section 261-5.6).

Exempts buildings developed by the Department of Hawaiian Home Lands for residential use by beneficiaries of the Hawaiian Homes Commission Act, 1920, as amended from the one percent transfer requirement.

Specifies that the one percent amount required shall be calculated when appropriation bills are signed into law, with each agency calculating and transferring the required moneys upon availability of funds.

Takes effect July 1, 2065.