2020 Hawaii Revised Statutes
Title 18. Education
302A. Education
302A-1706 School facilities special fund.
§302A-1706 School facilities special fund. (a) There is established within the state treasury a special fund to be known as the school facilities special fund into which shall be deposited:
(1) All moneys appropriated by the legislature for any public school development, planning, or construction related to a capital improvement project;
(2) Revenues pursuant to 302A-1608(a); provided that these moneys shall be deposited into the appropriate subaccount established pursuant to subsection (b);
(3) Any other moneys received by the department in the form of a grant, gift, endowment, or donation for any public school development, planning, or construction related to a capital improvement project, including funds transferred to the special fund by the agency pursuant to subsection (e);
(4) All moneys allocated to the special fund by the governor or board for a project;
(5) Any other appropriation by the legislature to the special fund; and
(6) Income and capital gains earned by the special fund.
(b) The agency shall establish and appropriately name subaccounts within the school facilities special fund to accept deposits of revenues from school impact fees that are required to be expended within a specific school impact district pursuant to 302A-1608(a) or restricted to another specific purpose pursuant to part V, subpart B of this chapter.
(c) The school facilities special fund shall be administered by the agency and used to fund any school development, planning, or construction project within the jurisdiction of the agency.
(d) Subject to chapter 84, but any law to the contrary notwithstanding, the governor may authorize expenditures from the school facilities special fund of any donation, grant, bequest, and devise of money from any private institution, person, firm, or corporation for the purposes of funding the salaries of the executive director and any officers, agents, and employees of the agency. If all or any portion of any salary of the executive director or any officer, agent, or employee of the agency is funded pursuant to this subsection, the agency shall submit a report to the legislature detailing the use of any funds authorized under this subsection no later than twenty days prior to the convening of the next regular session following the expenditure authorization.
(e) The agency may transfer any other unencumbered or unrestricted moneys received in the form of grants and donations for school development, planning, or construction to the school facilities special fund.
(f) The agency shall submit to the director of finance a report that shall be prepared in the form prescribed by the director of finance and shall identify the total amount of funds in the school facilities special fund that will carry over to the next fiscal year. The agency shall submit the report to the director of finance within ninety days of the close of each fiscal year and a copy of the information contained in the report to the director of finance shall be included within the agency's report to the legislature pursuant to section 302A-1707.
(g) Within the school facilities special fund there shall be established accounts and subaccounts as may be necessary from time to time in order to ensure compliance with the Internal Revenue Code, as amended. [L 2020, c 72, pt of §1]
