RELATING TO THE DEPARTMENT OF HAWAIIAN HOME LANDS.

2025 Regular Session Introduced by Luke Evslin and 11 co-sponsors

HB 1307 improves fund management for Hawaiian Home Lands, ensuring responsible investment practices that protect beneficiaries and promote geothermal resource development.

Referred to HWN/EIG, WAM.

#appropriation($) #dhhl #geothermalresources #hawaiianhomelands

# Summary of House Bill 1307 **Bill Number:** HB 1307 **Title:** Relating to the Department of Hawaiian Home Lands **Status:** Referred to HWN/EIG, WAM **Introduced:** January 29, 2025 **Classification:** Bill **Subject:** Appropriation ($), DHHL, Geothermal Resources, Hawaiian Home Lands ## Purpose and Intent House Bill 1307 aims to enhance the management of funds associated with the Department of Hawaiian Home Lands (DHHL) by amending existing laws related to the prudent management of institutional funds. The bill seeks to ensure responsible financial practices while promoting the development and utilization of geothermal resources on Hawaiian Home Lands. ## Key Provisions - **Amendments to Fund Management:** The bill proposes changes to the Uniform Prudent Management of Institutional Funds Act (2006) to clarify definitions and standards for managing institutional funds. - **Definitions:** Key terms such as "charitable purpose," "endowment fund," and "institutional fund" are defined to provide clarity on what constitutes these funds and their intended use. - **Investment Standards:** Institutions managing these funds will be required to adhere to specific investment standards, ensuring that decisions are made with the primary goal of financial prudence rather than social or political objectives. - **Service Provider Selection:** The bill outlines a process for selecting service providers, requiring institutions to document their decisions and publicly post notices when seeking new providers. - **Financial Impact Considerations:** Institutions must assess the potential financial impact of their investment choices, ensuring that any decisions do not lead to a materially negative financial outcome for the fund. ## Affected Parties - **Department of Hawaiian Home Lands (DHHL):** The primary agency responsible for managing Hawaiian Home Lands and associated funds. - **Beneficiaries of Hawaiian Home Lands:** Individuals and families who are eligible for homesteading and other benefits under the DHHL. - **Investors and Service Providers:** Financial institutions and service providers involved in managing or advising on the investment of these funds. ## Procedural Aspects - **Legislative Timeline:** The bill was introduced on January 29, 2025, and has undergone several readings and amendments in both the House and Senate. - **Recent Actions:** As of March 18, 2025, HB 1307 has been enacted as Act 308 after passing through various legislative stages, including committee reviews and amendments. ## Conclusion HB 1307 represents a significant step towards improving the financial management of funds related to Hawaiian Home Lands. By establishing clearer guidelines and standards, the bill aims to protect the interests of beneficiaries while promoting responsible investment practices.