HI HB1185

Proposes amendment to Article VII, Section 13 of Hawaii Constitution to change the timing of first principal installment maturation for general obligation bonds from five years to one year from date of issue.

Applies to both general obligation bonds and reimbursable general obligation bonds issued by the State.

Ballot question asks voters whether first principal installment should mature no later than one year from date of issue rather than five years from date of issue.

Amendment takes effect July 1, 2030, upon compliance with Article XVII, Section 3 of Hawaii Constitution (requires voter approval).