HI HB1505

Encourages the Hawaii Employer-Union Health Benefits Trust Fund (EUTF) to develop an investment program that considers opportunities in renewable energy businesses and other industries that sustain Hawaii's natural environment or produce economic opportunities for residents.

Requires the EUTF to ensure any new investment program remains consistent with its current investment objectives documented in the investment policy statement.

Appropriates funds from general revenues to the EUTF for fiscal year 2023-2024 to develop the program, perform due diligence, identify qualifying investments, and distribute funds to investment opportunities.

Mandates that until the EUTF completes its due diligence and commits funds to investments, the appropriation shall be treated as an addition to monthly employer contributions under Hawaii Revised Statutes sections 87A-32 through 87A-37.

Takes effect on June 30, 3000.