(a) All proceeds from the leases, permits, interest income generated from public school lands, and other revenue generated from the nonpermanent disposition of public school lands, including facilities, pursuant to section lease of public school land” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”HI”>302A-1151.1 shall be deposited into the school facilities subaccount established pursuant to section 302A-1148(b).
Terms Used In Hawaii Revised Statutes 302A-1151.2
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(b) Except as otherwise provided, all moneys in the school facilities subaccount shall be used exclusively for the new construction and upgrade of twenty-first century school facilities, as well as the repair and maintenance of existing school facilities.
