HB1058 Summary

• Amends Hawaii Revised Statutes Chapter 37 to classify agency-wide technology and computer systems with a useful life of at least seven years as capital investments.

• Allows all labor costs, hardware, software, and licenses for development, installation, monitoring, and replacement of these technology systems to be financed with bond funds.

• Defines new phases for technology projects as planning, acquisition, testing, implementation, and monitoring (in addition to the existing land acquisition, design, construction, and occupancy phases).

• Enables long-term depreciation of technology infrastructure investments rather than requiring them to be funded within a single operating budget biennium.

• Takes effect July 1, 2011.