THE SENATE S.B. NO. 3179 THIRTY-SECOND LEGISLATURE, 2024 STATE OF HAWAII A BILL FOR AN ACT RELATING TO CAPITAL ADVANCEMENT CONTRACTS. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
THE SENATE S.B. NO. 3179
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII
THE SENATE
S.B. NO.
3179
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII
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] $5,000,000 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] $20,000,000 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 Statutory material to be repealed is bracketed and stricken.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 upon its approval. INTRODUCED BY: _____________________________ BY REQUEST
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] $5,000,000 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] $20,000,000 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 upon its approval.
INTRODUCED BY: _____________________________
BY REQUEST
INTRODUCED BY:
_____________________________
BY REQUEST
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. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.