HI SB119

Establishes the State Facility Renovation Partnership Program to be administered by the Department of Accounting and General Services to address deferred facility maintenance and enable new construction through public-private partnerships.

Requires the department to conduct a comprehensive review of state office facilities and compile a list of priority facilities on state-owned land suitable for the partnership program.

Authorizes the department to enter into development agreements with private investors to sell facilities, with the private investor responsible for renovating, improving, or constructing facilities and leasing them back to the State under a building lease.

Stipulates that land cannot be sold to private investors but may be leased at a nominal rate for a term allowing recovery of capital investment and depreciation, and grants the State an option to purchase the facility at any time for the remaining debt service balance.

Establishes a special fund to receive all revenues from the partnership program for use solely in implementing the program; effective July 1, 2030.