HI SB414

Establishes the Hawaii Educational Expenditure Trust Fund as a separate fund within the Department of Education to receive state appropriations, private contributions, and investment income for educational purposes.

Trust fund assets shall consist of moneys from the State or county, tax remittances, fee assessments, private contributions, and investment income and capital gains earned by the fund.

Authorizes the department to hire a private third party to administer the trust fund and allows investment of aggregate principal and earnings in the State's investment pool to maximize returns while preserving principal.

Designates trust fund moneys for grantmaking, department operations, student education, supportive programs, public school facilities, and general public education benefit, with the superintendent overseeing administration and expenditure.

Superintendent shall develop trust fund policy and strategy, publicize the fund, and solicit public and private contributions; unspent state appropriations shall be returned to school-based budgeting if the trust fund is terminated.