HB 1168: UH; Board of Regents; Authorization of Revenue Bonds; Capital Improvement Projects

A BILL FOR AN ACT

RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that it is necessary to allow the university of Hawaii to issue revenue bonds to help address the university's capital facility needs.  The construction of new projects and the renovation, modernization, and major repair of existing facilities have included, and will continue to include, faculty and student housing, additional classrooms, laboratories, offices, research facilities, utility facilities, libraries, student support facilities, athletic facilities, and other infrastructure requirements.

     The purpose of this Act is to authorize the board of regents of the university of Hawaii to issue revenue bonds to complete its priority capital facility construction, renovation, modernization, and repair projects.

     SECTION 2.  The board of regents of the university of Hawaii, with the approval of the governor, is authorized to issue revenue bonds from time to time to finance, in whole or in part, the costs of construction or the costs of maintenance and modernization, or both, of any university project, any university system, or any network or combination thereof, including reserves therefor as the board of regents may direct.  The total principal amount of the revenue bonds authorized by this Act shall not exceed $30,750,000; provided that neither revenue bonds issued to refund revenue bonds heretofore issued, to the extent that the refunding revenue bonds do not exceed the principal amount of the revenue bonds being refunded, nor revenue bonds of the board outstanding at the effective date of this Act shall cause the amount of the above authorization to be decreased.  The revenue bonds shall be issued pursuant to part VI of chapter 304A, Hawaii Revised Statutes.  The principal and interest on the revenue bonds, to the extent not paid from the proceeds of the bonds, shall be paid solely from and secured solely by the revenue of the university as defined in section 304A-2671, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the revenue bond proceeds and interest earned thereon authorized by this Act the sum of $30,750,000 or so much thereof as may be necessary for fiscal year 2025-2026 to carry out the purposes of section 2 of this Act; provided that students residing in the university of Hawaii student housing services program with a demonstrated financial need, as determined by the university of Hawaii, who qualify for the resident tuition fee pursuant to section 304A‑402, Hawaii Revised Statutes, are assisted with a housing allowance, stipend, or similar financial aid to help offset a portion of an increase in room and board costs that are due to increased debt service from said revenue bonds; provided further that any unexpended and unencumbered balance of the appropriation shall not lapse at the end of fiscal year 2026-2027 and shall lapse instead on June 30, 2030.

     The sum appropriated shall be expended by the board of regents of the university of Hawaii.

     SECTION 4.  The university of Hawaii shall notify the legislature upon the issuance of the revenue bonds authorized by section 2 of this Act, including a detailed list and description of all projects to be funded through the revenue bonds authorized by this Act.

     SECTION 5.  This Act shall take effect on July 1, 2025.

Report Title:

UH; Board of Regents; Authorization of Revenue Bonds; Capital Improvement Projects

Description:

Authorizes the Board of Regents of the University of Hawaii to issue revenue bonds for the purpose of financing qualifying priority capital improvement projects.  Conditions revenue bond proceeds appropriation on room and board assistance to students with financial need.  (CD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.

A BILL FOR AN ACT

RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that it is necessary to allow the university of Hawaii to issue revenue bonds to help address the university's capital facility needs.  The construction of new projects and the renovation, modernization, and major repair of existing facilities have included, and will continue to include, faculty and student housing, additional classrooms, laboratories, offices, research facilities, utility facilities, libraries, student support facilities, athletic facilities, and other infrastructure requirements.

     The purpose of this Act is to authorize the board of regents of the university of Hawaii to issue revenue bonds to complete its priority capital facility construction, renovation, modernization, and repair projects.

     SECTION 2.  The board of regents of the university of Hawaii, with the approval of the governor, is authorized to issue revenue bonds from time to time to finance, in whole or in part, the costs of construction or the costs of maintenance and modernization, or both, of any university project, any university system, or any network or combination thereof, including reserves therefor as the board of regents may direct.  The total principal amount of the revenue bonds authorized by this Act shall not exceed $          ; provided that neither revenue bonds issued to refund revenue bonds heretofore issued, to the extent that the refunding revenue bonds do not exceed the principal amount of the revenue bonds being refunded, nor revenue bonds of the board outstanding at the effective date of this Act shall cause the amount of the above authorization to be decreased.  The revenue bonds shall be issued pursuant to part VI of chapter 304A, Hawaii Revised Statutes.  The principal and interest on the revenue bonds, to the extent not paid from the proceeds of the bonds, shall be paid solely from and secured solely by the revenue of the university as defined in section 304A-2671, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the revenue bond proceeds and interest earned thereon authorized by this Act the sum of $           or so much thereof as may be necessary for fiscal year 2025-2026 to carry out the purposes of section 2 of this Act; provided that students with a demonstrated financial need who qualify for the resident tuition fee pursuant to section 304A-402, Hawaii Revised Statutes, are assisted with a housing allowance, stipend, or similar grant-in-aid to help offset a portion of an increase in room and board costs that promote long-term affordability; and provided further that any unexpended and unencumbered balance of the appropriation shall not lapse at the end of fiscal year 2025-2026 and shall lapse instead on June 30, 2030.

     The sum appropriated shall be expended by the board of regents of the university of Hawaii.

     SECTION 4.  The university of Hawaii shall notify the legislature upon the issuance of the revenue bonds authorized by section 2 of this Act, including a detailed list and description of all projects to be funded through the revenue bonds authorized by this Act.

     SECTION 5.  This Act shall take effect on July 1, 3000.

Report Title:

UH; Board of Regents; Authorization of Revenue Bonds; Capital Improvement Projects

Description:

Authorizes the Board of Regents of the University of Hawaii to issue revenue bonds for the purpose of financing qualifying priority capital improvement projects.  Conditions revenue bond proceeds appropriation on room and board assistance to students with financial need.  Effective 7/1/3000.  (SD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.

A BILL FOR AN ACT

RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that it is necessary to allow the university of Hawaii to issue revenue bonds to help address the university's capital facility needs.  The construction of new projects and the renovation, modernization, and major repair of existing facilities have included, and will continue to include, faculty and student housing, additional classrooms, laboratories, offices, research facilities, utility facilities, libraries, student support facilities, athletic facilities, and other infrastructure requirements.

     The purpose of this Act is to authorize the board of regents of the university of Hawaii to issue revenue bonds to complete its priority capital facility construction, renovation, modernization, and repair projects.

     SECTION 2.  The board of regents of the university of Hawaii, with the approval of the governor, is authorized to issue revenue bonds from time to time to finance, in whole or in part, the costs of construction or the costs of maintenance and modernization, or both, of any university project, any university system, or any network or combination thereof, including reserves therefor as the board of regents may direct.  The total principal amount of the revenue bonds authorized by this Act shall not exceed $          ; provided that neither revenue bonds issued to refund revenue bonds heretofore issued, to the extent that the refunding revenue bonds do not exceed the principal amount of the revenue bonds being refunded, nor revenue bonds of the board outstanding at the effective date of this Act shall cause the amount of the above authorization to be decreased.  The revenue bonds shall be issued pursuant to part VI of chapter 304A, Hawaii Revised Statutes.  The principal and interest on the revenue bonds, to the extent not paid from the proceeds of the bonds, shall be paid solely from and secured solely by the revenue of the university as defined in section 304A-2671, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the revenue bond proceeds and interest earned thereon authorized by this Act the sum of $           or so much thereof as may be necessary for fiscal year 2025-2026 to carry out the purposes of section 2 of this Act; provided that any unexpended and unencumbered balance of the appropriation shall not lapse at the end of fiscal year 2025-2026 and shall lapse instead on June 30, 2030.

     The sum appropriated shall be expended by the board of regents of the university of Hawaii.

     SECTION 4.  The university of Hawaii shall notify the legislature upon the issuance of the revenue bonds authorized by section 2 of this Act, including a detailed list and description of all projects to be funded through the revenue bonds authorized by this Act.

     SECTION 5.  This Act shall take effect on July 1, 3000.

Report Title:

UH; Board of Regents; Authorization of Revenue Bonds; Capital Improvement Projects

Description:

Authorizes the Board of Regents of the University of Hawaii to issue revenue bonds for the purpose of financing qualifying priority capital improvement projects.  Effective 7/1/3000.  (HD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.

A BILL FOR AN ACT

RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that it is necessary to allow the university of Hawaii to issue revenue bonds to help address the university's capital facility needs.  The construction of new projects and the renovation, modernization, and major repair of existing facilities have included, and will continue to include, faculty and student housings, additional classrooms, laboratories, offices, research facilities, utility facilities, libraries, student support facilities, athletic facilities, and other infrastructure requirements.

     The purpose of this Act is to authorize the board of regents of the university of Hawaii to issue revenue bonds for up to $800,000,000 to complete as many of its priority capital facility construction, renovation, modernization, and repair projects as possible.

     SECTION 2.  The board of regents of the university of Hawaii, with the approval of the governor, is authorized to issue revenue bonds from time to time to finance, in whole or in part, the costs of construction or the costs of maintenance and modernization, or both, of any university project, any university system, or any network or combination thereof, including reserves therefor as the board of regents may direct.  The total principal amount of the revenue bonds authorized by this Act shall not exceed $800,000,000; provided that neither revenue bonds issued to refund revenue bonds heretofore issued, to the extent that the refunding revenue bonds do not exceed the principal amount of the revenue bonds being refunded, nor revenue bonds of the board outstanding at the effective date of this Act shall cause the amount of the above authorization to be decreased.  The revenue bonds shall be issued pursuant to part VI of chapter 304A, Hawaii Revised Statutes.  The principal and interest on the revenue bonds, to the extent not paid from the proceeds of the bonds, shall be paid solely from and secured solely by the revenue of the university as defined in section 304A-2671, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the revenue bond proceeds and interest earned thereon authorized by this Act the sum of $800,000,000 or so much thereof as may be necessary for fiscal year 2025-2026 to carry out the purposes of section 2 of this Act; provided that any unexpended and unencumbered balance of the appropriation shall not lapse at the end of fiscal year 2025-2026 and shall lapse instead on June 30, 2030.

     The sum appropriated shall be expended by the board of regents of the university of Hawaii.

     SECTION 4.  The university of Hawaii shall notify the legislature upon the issuance of the revenue bonds authorized by section 2 of this Act, including a detailed list and description of all projects to be funded through the revenue bonds authorized by this Act.

     SECTION 5.  This Act shall take effect upon its approval.

Report Title:

UH; Board of Regents; Authorization of Revenue Bonds; Capital Improvement Projects

Description:

Authorizes the Board of Regents of the University of Hawaii to issue revenue bonds for up to $800,000,000 for the purpose of financing qualifying priority capital improvement projects.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.

CONFERENCE COMMITTEE REP. NO. 228

Honolulu, Hawaii

                 , 2025

RE:    H.B. No. 1168

       H.D. 1

       S.D. 1

       C.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madam and Sir:

     Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1168, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

     The purpose of this measure is to:

     (1)  Authorize the Board of Regents of the University of Hawaii to issue revenue bonds to finance qualifying priority capital improvement projects of the University of Hawaii; and

     (2)  Condition the appropriation of revenue bond proceeds on the provision of financial assistance for room and board costs to students who have a demonstrated financial need and qualify for the resident tuition fee.

     Your Committee on Conference has amended this measure by:

     (1)  Changing the revenue bond authorization and appropriation amount from an unspecified amount to $30,750,000;

     (2)  Clarifying the conditions of the appropriation of revenue bond proceeds to be for students residing in the University of Hawaii student housing services program with a demonstrated financial need, as determined by the University of Hawaii, who qualify for the resident tuition to assist the students with a housing allowance, stipend, or similar financial aid to help offset a portion of an increase in room and board costs that are due to increased debt service from said revenue bonds;

     (3)  Specifying that any unexpended and unencumbered balance of the appropriation shall not lapse at the end of fiscal year 2026-2027 and shall lapse instead on June 30, 2030;

     (4)  Changing the effective date to July 1, 2025; and

     (5)  Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1168, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1168, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

STAND. COM. REP. NO. 1756

Honolulu, Hawaii

RE:    H.B. No. 1168

       H.D. 1

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B. No. 1168, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the Board of Regents of the University of Hawaii to issue revenue bonds to complete its priority capital facility construction, renovation, modernization, and repair projects.

     Your Committee received written comments in support of this measure from the University of Hawaii System.

     Your Committee finds that authorizing the issuance of revenue bonds will give the University of Hawaii additional flexibility in financing future projects, such as for student housing, where significant repairs and renovations are needed.

     Your Committee has amended this measure by conditioning the appropriation of revenue bond proceeds on the provision of financial assistance to students who have a demonstrated financial need and qualify for the resident tuition fee to offset room and board costs.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1168, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1168, H.D. 1, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

STAND. COM. REP. NO. 1205

Honolulu, Hawaii

RE:    H.B. No. 1168

       H.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Sir:

     Your Committee on Higher Education, to which was referred H.B. No. 1168, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the Board of Regents of the University of Hawaii to issue revenue bonds to complete its priority capital facility construction, renovation, modernization, and repair projects.

     Your Committee received testimony in support of this measure from the University of Hawaiʻi System.

     Your Committee finds that allowing the University of Hawaii to issue revenue bonds will allow it to proactively plan the construction of new projects and the renovation, modernization, and substantial repair of existing facilities.  Your Committee further finds that allowing the University of Hawaii to issue revenue bonds would ensure that the University has the necessary funding to develop and improve student housing.  This measure will therefore enable the University of Hawaii to fund critical improvements to building envelopes, infrastructure, and interiors, providing students with sufficient, well-maintained housing.

     As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1168, H.D. 1, and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Higher Education,

STAND. COM. REP. NO.  1104

Honolulu, Hawaii

                , 2025

RE:   H.B. No. 1168

      H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madame:

     Your Committee on Finance, to which was referred H.B. No. 1168, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS,"

begs leave to report as follows:

     The purpose of this measure is to authorize the Board of Regents of the University of Hawaii to issue revenue bonds and appropriate funds out of the revenue bond proceeds to finance qualifying priority capital improvement projects of the University of Hawaii.

     Your Committee received testimony in support of this measure from the University of Hawaiʻi System.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1168, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

STAND. COM. REP. NO.  400

Honolulu, Hawaii

                , 2025

RE:   H.B. No. 1168

      H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madame:

     Your Committee on Higher Education, to which was referred H.B. No. 1168 entitled:

"A BILL FOR AN ACT RELATING TO THE UNIVERSITY OF HAWAII REVENUE BONDS,"

begs leave to report as follows:

     The purpose of this measure is to authorize the Board of Regents of the University of Hawaii to issue revenue bonds and appropriate funds out of the revenue bond proceeds to finance qualifying priority capital improvement projects of the University of Hawaii.

     Your Committee received testimony in support of this measure from the University of Hawaiʻi System.

     Your Committee finds that allowing the University of Hawaii to issue revenue bonds will help address the University's capital facility needs, including new construction, modernization, and its major repair and maintenance backlog.

     Your Committee has amended this measure by:

     (1)  Changing the maximum revenue bond issuance and appropriation to unspecified amounts;

     (2)  Changing the effective date to July 1, 3000, to encourage further discussion; and

     (3)  Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

     Your Committee respectfully requests your Committee on Finance, should it deliberate on this measure, to consider the maximum revenue bond issuance and appropriation amount of $8,000,000 to finance qualifying priority capital improvement projects of the University of Hawaii.

     As affirmed by the record of votes of the members of your Committee on Higher Education that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1168, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1168, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Higher Education,