RELATING TO THE UNIVERSITY OF HAWAII.

Established a 'Name, Image, and Likeness Endowment Fund' with a mandatory initial corpus of at least $10 million, which cannot be allocated or spent directly.

Added an appropriation section requiring the state to provide initial funding matched dollar-for-dollar by funds raised specifically for NIL.

Requires every student athlete receiving compensation from the fund to retain a registered athlete agent, with parents only allowed to represent them in agreed-upon areas.

Updated the annual report deadline from twenty days before the legislative session to December 1 of each year.

Removed the requirement for the university to provide independent advisors to student athletes and deleted the 10-day rescission period for NIL agreements.

Changed the effective date from July 1, 3000 (with a repeal date of June 30, 2030) to July 1, 2026, making the law permanent immediately.

Updated the bill header to reflect the new version number (H.D. 3) and changed the author name and clerk assignment details.

Corrected the legal citation for the NCAA litigation in the findings section to use a specific court case identifier format.

Added a new requirement for the university to provide independent advisors to student-athletes who enter into name, image, and likeness agreements.

Modified the definition of 'Title IX' to refer to the federal Education Amendments of 1972 instead of citing a specific United States Code section.

Updated the bill header to reflect the new version (HD2) and corrected the author's name from Xiao to Michael Ganoot.

Corrected the citation for the House v. NCAA litigation case number to standardize the formatting.

Deleted Section 3 and Section 4, which established a $16.5 million endowment fund to support student-athlete compensation, and removed the specific appropriation of $2.5 million to fund it.

Removed Section 304A-E(5), which required the university to submit an annual report detailing efforts to administer NIL activities consistent with Title IX.

Deleted Section 304A-E(6) and (7), which required the university to report documented challenges, violations, and an aggregate summary of NIL agreements disaggregated by value, sport, and gender.

Deleted Section 304A-C(f), which allowed student-athletes to seek advice from parents or trusted individuals, and Section 304A-C(g), which required the university to provide educational resources on contracts and financial management.

Removed Section 304A-C(h), which clarified that nothing in the bill required a student-athlete to retain representation or advisory services.

Removed Section 304A-C(e), which explicitly allowed student-athletes to retain professional representation, such as sports agents, for NIL activities.

Changed the sunset date from June 30, 2030, to June 30, 2030, but altered the effective date from July 1, 2026, to July 1, 3000.

Corrected formatting errors in the citation of the Education Amendments Act of 1972 and adjusted the bill's header information from CD1 to HD1.

The initial funding structure changed from a single $5M appropriation requiring a $5M match to a mix of a $4M transfer from university tuition funds, $2.5M in legislative appropriations, and $5M in matching donations.

New requirements mandate that universities adopt policies allowing student-athletes to retain professional representation and prohibiting restrictions on NIL activities except for specific conflicts of interest.

A new reporting requirement was added for third-party agreements valued at $600 or more, requiring universities to maintain confidential internal records and submit aggregate summaries to the legislature.

New protections were added requiring universities to provide educational resources on taxes, contracts, and financial management to student-athletes.

Formal definitions were added for terms like 'institutional name, image, and likeness agreement' and 'third-party name, image, and likeness agreement' to clarify the bill's reach.

The effective date was moved to upon approval, and a sunset provision was added to repeal the Act on June 30, 2030, with a review scheduled for the 2029 session.