RELATING TO THE RESEARCH CORPORATION OF THE UNIVERSITY OF HAWAII.

Clarifies that the purpose of the Research Corporation of the University of Hawaii is to promote educational, scientific, and literary pursuits through research, training of research personnel, and dissemination of knowledge by publication of research findings; and its undertakings shall be limited to acts that are reasonably necessary to carry out this purpose. Requires revolving accounts to follow Corporation policies. Grandfathers existing Research Corporation of the University of Hawaii contracts and requires new contracts be subject to new limitations following enactment of this measure. Defines minor renovation projects permissible in support of research and training. Requires biannual reports to the Legislature regarding internal service orders and revolving accounts of the Research Corporation of the University of Hawaii that utilize University of Hawaii intramural funds for financial and mission compliance. Authorizes the Research Corporation of the University of Hawaii to conduct minor renovation projects at costs of $2 million or less. Effective 7/1/2050. (SD2)