HI HB1741

Establishes an infrastructure capacity construction loan revolving fund administered by the department of budget and finance to provide loans to counties, state agencies, and private developers for infrastructure improvements.

Fund sources include loan repayment with simple interest (set between prevailing market rate minus a percentage and a maximum cap), legislative appropriations, federal grants, private investor contributions, and voluntary contributions.

Eligible projects include regional sewer, water, drainage, roads, and telecommunications/broadband infrastructure that increase capacity for planned growth, excluding maintenance-only projects and mass transit or electrical utilities.

Department of budget and finance authorized to make loans for planning, design, feasibility studies, construction, and materials costs for approved capital improvement projects.

Effective July 1, 2050, with appropriations sections (3, 4, and 5) effective July 1, 2014; specific appropriation amounts left blank in bill text.