RELATING TO LONG-TERM CARE FINANCING.

The agency responsible for expending appropriated funds changed from the Auditor to the Department of Health.

The commission was renamed from the 'long-term care financing advisory committee' to the 'joint house of representatives and senate long-term care financing advisory commission'.

The effective date of the Act was changed from July 1, 3000, to January 1, 2050.

New requirements were added for consultants to analyze cost-sharing mechanisms (like copayments) and the 'woodwork effect' on costs.

The list of required studies was expanded to include economies of scale inefficiencies and high marginal operating expenses of decentralized service models.

Established a new independent Joint Long-Term Care Financing Advisory Commission to replace the Executive Office on Aging as the lead body for the study.

Removed the directive for the Executive Office on Aging to solely develop the study framework and contract with the University of Hawaii.

Defined the commission's membership to include mandatory voting members from the House, Senate, and various state directors (Health, Human Services, Taxation), plus invited experts and advocates.

Added detailed requirements for the commission to hire a part-time project director and specific consultants for actuarial assessment, policy analysis, and public engagement.

Mandated the commission to submit a preliminary report by December 31, 2026, an interim report by December 31, 2027, and a final report by December 31, 2028.

Changed the effective date of the Act from July 1, 2026, to July 1, 3000, likely to allow for future legislative review or placeholder purposes.

Modified the appropriation language to fund the new commission through the Auditor for staffing and administrative costs, rather than funding the Executive Office on Aging directly.

Eliminated the creation of a new 'Joint House of Representatives and Senate Long-Term Care Financing Advisory Commission' and all requirements for appointing its specific voting and invited members.

Assigned the responsibility to the Executive Office on Aging to develop the study's framework, scope of work, and submit a final report to the Legislature by December 2027.

Authorized the Executive Office on Aging to contract with the University of Hawaii to perform the study, exempting these services from standard state procurement rules.

Changed the effective date of the Act from immediate approval to July 1, 2026, and set a specific deadline for the agency to submit its report no later than twenty days before the 2027 legislative session.

Modified the appropriation language to fund the Executive Office on Aging's work rather than the Legislative Reference Bureau, which previously handled the commission's administrative costs.