Hawaii House Bill HB258

Hawaii 2024 Regular Session

• Introduced: 1/20/23
• Refer: 1/25/23
• Report Pass: 2/17/23
• Report Pass: 3/3/23
• Refer: 2/17/23
• Engrossed: 3/7/23
• Refer: 3/10/23

Caption

Relating To The Acquisition Of The Saint Francis School Campus For The University Of Hawaii At Manoa.

Impact

This bill, if passed, would facilitate significant changes in the landscape of higher education infrastructure in Hawaii. The issuance of revenue bonds would provide the necessary funding without heavily impacting state revenues directly. The financial model relies on the revenue generated by the university itself, ensuring that the repayment of the bonds is covered by university earnings rather than drawing funds away from other state services.

Summary

House Bill 258 aims to authorize the Board of Regents of the University of Hawaii to issue revenue bonds to finance the acquisition of the Saint Francis School campus located in Honolulu. This bill is part of a broader effort to expand educational resources and facilities for the University of Hawaii at Manoa, addressing the growing demand for higher education in the region. The funding will help in securing the property, which could be utilized for academic and administrative functions, thus enhancing the university's capacity to serve students and fulfill its educational objectives.

Contention

Although the bill appears beneficial for expanding educational capabilities, there could be contention regarding the financial implications and methodology behind funding such acquisitions. Critics might raise concerns over the long-term fiscal responsibility of issuing revenue bonds, particularly if the anticipated revenue does not meet projections. Additionally, there might be discussions around whether utilizing state resources for asset acquisition aligns with broader educational and financial policies.