HI SB2658

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 prior to the convening of each regular session.

Amends Section 304A-2672, Hawaii Revised Statutes, to add a new provision (paragraph 3) specifying RIM fund expenditure restrictions and reporting requirements.

Takes effect upon approval by the Governor.