HI SB2550

Establishes a school modernization initiative requiring the School Facilities Authority to create a capital improvement project planning database for Hawaii's public school facilities, which are valued at approximately $10.5 billion with an average building age of 72 years.

Mandates the database include an asset inventory updated annually by June 30, a facilities condition index updated at least every five years, and enrollment-to-capacity ratio data updated by December 1 each year.

Requires the Authority to classify and prioritize school facilities projects into categories: critical infrastructure (fire alarms, electrical, roofing, air conditioning), capacity expansion, functional adequacy enhancements, and legal compliance.

Directs the Authority to submit an annual report by August 15 to the legislature, governor, board of education, and superintendent with prioritized project lists and capacity utilization analysis.

Appropriates $4,000,000 for fiscal year 2026-2027 to establish the school modernization initiative, effective July 1, 2026.