HI HB1938

Authorizes the State Foundation on Culture and the Arts to sell works of art purchased with funds from the works of art special fund, provided the artist or artists who created the work have died and the work is sold at fair market value determined by a third-party appraiser.

Requires proceeds from the sale of any works of art purchased using moneys from the works of art special fund to be deposited back into the works of art special fund.

Amends section 103-8.5, Hawaii Revised Statutes, to clarify that the works of art special fund receives deposits from two sources: one percent of state capital improvement appropriations and proceeds from artwork sales.

Exempts passenger facility charge special fund and rental motor vehicle customer facility charge special fund appropriations from the one percent transfer requirement to the works of art special fund.

Takes effect upon approval.