HI SB414

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

Fund assets shall include moneys from the State or county, tax remittances, fee assessments, private contributions, and income and capital gains earned by the trust fund.

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

Superintendent or designated third party shall oversee fund administration and expenditure for grantmaking, department operations, student education, educational programs, public school facilities, and general public education benefit.

Upon trust fund termination, unspent state appropriations shall be distributed to EDN100 (Department of Education, School-Based Budgeting).