Report Title:

UH; Revolving Fund

Description:

Establishes a research and training revolving fund for the University of Hawaii medical school and health sciences library. Transfers start up funds from the University of Hawaii research and training revolving fund. (HD1)

HOUSE OF REPRESENTATIVES

H.B. NO.

891

TWENTY-SECOND LEGISLATURE, 2004

H.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO THE UNIVERSITY OF hAWAII.

 

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

SECTION 1. The legislature finds that the University of Hawaii School of Medicine and the University of Hawaii Health Sciences Library need to be freestanding campuses.

The purpose of this Act is to establish a medical school research and training revolving fund to provide funding for the operations of both the University of Hawaii School of Medicine and the University of Hawaii Health Sciences Library. This Act establishes the revolving fund with funds recovered from the indirect cost recovery mechanism of federal and other sponsoring organizations.

SECTION 2. Chapter 304, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"§304- Medical school research and training revolving fund. (a) There is established a University of Hawaii medical school research and training revolving fund into which shall be deposited one hundred per cent of the total amount of indirect overhead revenues generated by the university from research and training programs of the school of medicine of the University of Hawaii and the health sciences library of the University of Hawaii. The board of regents of the University of Hawaii is authorized to expend one hundred per cent of the revenues deposited in the fund for:

(1) Research and training purposes which may result in additional research and training grants and contracts to the school of medicine or the health sciences library; and

(2) Facilitating research and training at the school of medicine or the health sciences library.

(b) The University of Hawaii shall prepare and submit an annual report on the status of the medical school research and training revolving fund to the legislature twenty days before the convening of each regular session. The annual report shall include but not be limited to a breakdown of travel expenses.

(c) Notwithstanding any other law to the contrary, the board of regents, or its designee, may establish a separate account within the medical school research and training revolving fund for the purpose of providing advance funding to meet reimbursable costs incurred in connection with federally financed research and training projects. Any reimbursement received as a result of providing advance funding shall be deposited into the medical school research and training revolving fund to be used for the purpose of meeting reimbursable costs incurred in connection with federally financed projects.

(d) Revenues deposited into the fund shall not be used as a basis for reducing any current or future budget request or allotment to the University of Hawaii unless the university requests such a reduction."

SECTION 3. Section 304-8.1, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) There is established a University of Hawaii research and training revolving fund into which shall be deposited one hundred per cent of the total amount of indirect overhead revenues generated by the university from research and training programs[.], but not including the research and training programs of the school of medicine of the University of Hawaii and the health sciences library of the University of Hawaii. The board of regents of the University of Hawaii is authorized to expend one hundred per cent of the revenues deposited in the fund for:

(1) Research and training purposes which may result in additional research and training grants and contracts;

(2) Facilitating research and training at the university; and

(3) Further deposit into the discoveries and inventions revolving fund and the University of Hawaii housing assistance revolving fund."

SECTION 4. There is appropriated out of the University of Hawaii research and training revolving fund of the State of Hawaii the sum of $3,524,000, or so much thereof as may be necessary for fiscal year 2004-2005, for deposit into the University of Hawaii medical school research and training revolving fund.

SECTION 5. There is appropriated out of the University of Hawaii medical school research and training revolving fund the sum of $3,524,000, or so much thereof as may be necessary for fiscal year 2004-2005, for the following purposes:

(1) $1,724,000 to provide operating funds for the health sciences library of the University of Hawaii; and

(2) $1,800,000 to provide operating funds for the school of medicine of the University of Hawaii, Kakaako campus.

SECTION 6. The sum appropriated shall be expended by the University of Hawaii for the purposes of this Act.

SECTION 7. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 8. This Act shall take effect on July 1, 2004.