H.B. 2341 Summary

• Amends Hawaii Revised Statutes Section 37D-2 to specify that the issuance of certificates of participation does not require legislative approval.

• Clarifies authority for agencies and the department to enter into financing agreements, including approval requirements by the attorney general and director.

• Maintains existing limitations on financing agreements, including restrictions on payment sources to available moneys only and limitations on property rights that may be granted.

• Effective date is July 1, 2012.