HI SB1346

Establishes the Hawaii Educational Expenditure Trust Fund as a separate fund within the Department of Education to supplement existing funding for educational programs and opportunities.

Trust fund assets shall consist of state appropriations, county funds, tax remittances, fee assessments, private contributions, and income and capital gains earned by the fund.

The superintendent oversees administration and expenditure of trust fund moneys for grantmaking, department operations, student education, support programs, facilities, and trust fund administration.

Trust fund principal and unexpended income shall be invested in the State's investment pool to maximize returns while preserving principal; the department may hire internal or external investment managers.

Upon trust fund termination, any unspent state appropriations shall be distributed to the Department of Education's school-based budgeting account (EDN100).