HI SB1624

Requires the University of Hawaii Board of Regents to use funds appropriated for renew, improve, and modernize (RIM) projects exclusively for those purposes and prohibits spending RIM funds on current, ongoing, or anticipated capital improvement projects

Mandates the Board of Regents submit an annual report detailing RIM projects that received funding to the legislature no later than 30 days before each regular legislative session

Amends Section 304A-2672, Hawaii Revised Statutes, to add new provisions governing RIM fund expenditures as a specific power of the Board

Effective date of July 31, 2050