Bill Text: HI HB2490 | 2024 | Regular Session | Amended

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Bill Title: Relating To Capital Advancement Contracts.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2024-04-26 - Received notice of Senate conferees (Sen. Com. No. 791). [HB2490 Detail]

Download: Hawaii-2024-HB2490-Amended.html

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HOUSE OF REPRESENTATIVES	H.B. NO.	2490
THIRTY-SECOND LEGISLATURE, 2024		H.D. 2
STATE OF HAWAII		S.D. 1

A BILL FOR AN ACT

 

 

RELATING TO CAPITAL ADVANCEMENT CONTRACTS.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Section 266-19.5, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:

     "(d)  The department of transportation may execute capital advancement contracts pursuant to subsection (a) with a total contract value of [$2,000,000] $           or less without legislative approval.  [If the total value of a capital advancement contract pursuant to subsection (a) is greater than $2,000,000 then the department of transportation shall obtain legislative approval in the form of the adoption of a concurrent resolution affirming the purpose, project, and contract issuance prior to executing the capital advancement contract.]  The total aggregate value of all capital advancement contracts entered into by the department pursuant to this section shall not exceed [$5,000,000] $           in any [calendar] fiscal year.  The department shall submit a report to the legislature of all executed capital advancement contracts for the previous twelve month period from December 1 to November 30 no later than twenty days prior to the convening of the regular session of 2025 and each regular session thereafter."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect on July 1, 2024.

 

 

Report Title:

DOT; Harbor Improvements; Capital Advancement Contracts; Report

 

Description:

Increases the caps for the total contract value for any one capital advancement contract (CAC) and the total aggregate value of CACs in a fiscal year entered into by the Department of Transportation with private parties for harbor improvements and adds reporting requirements for the Department.  (SD1)

 

 

 

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