Bill Text: HI SB77 | 2020 | Regular Session | Amended
Bill Title: Relating To Capital Improvement Projects.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2019-12-01 - Carried over to 2020 Regular Session. [SB77 Detail]
Download: Hawaii-2020-SB77-Amended.html
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THE SENATE |
S.B. NO. |
77 |
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THIRTIETH LEGISLATURE, 2019 |
S.D. 3 |
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STATE OF HAWAII |
H.D. 1 |
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A BILL FOR AN ACT
RELATING TO CAPITAL IMPROVEMENT PROJECTS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
Section 1. The legislature finds that the Ala Wai canal and the surrounding watersheds must be fortified in order to prevent major flooding in Honolulu's urban core. According to the United States Army Corps of Engineers, a major flood could damage three thousand structures, require more than $1,000,000,000 in repairs, and severely impact Hawaii's economy. The 2003 Economic Contribution of Waikiki Report indicated that in 2002, Waikiki-based visitor activity accounted for $3,600,000,000, or forty-six per cent, of the tourism industry's total contribution to the gross state product. Due to the potential impact that flooding could have on the economy, the legislature finds that the Ala Wai flood risk management project is in the public interest and is necessary for the health, safety, and general welfare of the State.
The legislature further finds that the project will cost $345,000,000, and the United States Congress has appropriated $345,000,000 for the project but requires a thirty-five per cent match by a local entity. Although this project is under county jurisdiction, the legislature has been requested to allocate matching funds to ensure the health, safety, and general welfare of the State.
The purpose of this Act is to establish a financing mechanism to satisfy the federal requirement that thirty-five percent of the Ala Wai flood risk management project costs be funded by a local entity through:
(1) Authorizing the department of budget and finance to enter into a financing agreement in an amount not to exceed $125,000,000 to fund the local match for the Ala Wai Flood Risk Management Project; and
(2) Appropriating funds to the department of budget and finance, based upon the United States Army Corps of Engineers' cost payment plan, for the Ala Wai flood risk management project.
SECTION 2. The department of budget and finance is authorized to enter into a financing agreement pursuant to chapter 37D, Hawaii Revised Statutes, in an amount not to exceed $125,000,000 for the purpose of funding the local match for the Ala Wai flood risk management project.
SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2019-2020 and the same sum or so much thereof as may be necessary for fiscal year 2020-2021 for the Ala Wai flood risk management project.
The sums appropriated shall be expended by the department of budget and finance for the purposes of this Act.
SECTION 4. This Act shall take effect on July 1, 2050.
Report Title:
Capital Improvement Projects; Ala Wai Canal; Financing Agreement; Appropriation
Description:
Authorizes the Department of Budget and Finance to enter into a financing agreement in an amount not to exceed $125,000,000 to fund the local match for the Ala Wai Flood Risk Management Project. Appropriates funds for fiscal biennium 2019-2021 for the Ala Wai Flood Risk Management Project. (SB77 HD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
