HI HB1350

Proposes an amendment to Hawaii Constitution Article VII, Section 12 to authorize special purpose revenue bonds (SPRBs) to assist real estate developers in providing infrastructure, including highway improvements.

Adds real estate developers as a new eligible category (item 8) for special purpose revenue bonds, joining existing categories such as manufacturing enterprises, utilities, healthcare facilities, and educational institutions.

Requires a two-thirds vote of each legislative house to enact enabling legislation and authorize issuance of SPRBs for real estate development projects, with findings that issuance is in the public interest.

Allows the state to combine multiple SPRB issues for real estate developers into a single bond issue, consistent with existing provisions for educational institutions.

Requires annual reporting to the legislature by the governor on cumulative amounts of all special purpose revenue bonds authorized and issued.