HI HB1505

Encourages the Hawaii Employer-Union Health Benefits Trust Fund (EUTF) to develop an investment program focused on renewable energy businesses and infrastructure for energy sustainability that aligns with its current investment objectives.

Authorizes the EUTF to consider investment opportunities in industries that sustain Hawaii's natural environment or produce economic opportunities for residents, consistent with its investment policy statement.

Appropriates funds from general revenues for fiscal year 2023-2024 to the EUTF for developing and implementing the program, with the appropriation treated as an addition to monthly contributions until funds are committed to qualifying investments.

Requires the EUTF to perform due diligence according to its investment policy statement before identifying and distributing funds to investment opportunities.

Takes effect June 30, 3000.