Hawaii Revised Statutes 302A-420 – Profits and school credit for students
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All net profits arising from agricultural , industrial, or commercial enterprise pursuits at any school, under the rules of the department:
Terms Used In Hawaii Revised Statutes 302A-420
- Department: means the department of education. See Hawaii Revised Statutes 302A-101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
provided further that the commercial enterprise does not affect the tax-exempt status of general obligation bonds and complies with the requirements of section 302A-448. The department shall provide for the keeping of simple books of account, showing the source and distribution of the money resulting from the operations carried on pursuant to this section, and for the auditing of these books of account at least quarterly.