HI HB441

Establishes an infrastructure capacity construction loan revolving fund administered by the Department of Accounting and General Services to provide loans to counties, state agencies, and private developers for regional infrastructure improvements including sewer, water, drainage, roads, and telecommunications/broadband.

Fund revenues come from loan repayments with simple interest (below market rate but not less than a specified minimum percentage and not exceeding a maximum percentage), legislative appropriations, federal grants, private investor contributions, and voluntary contributions.

Loans are restricted to capital improvement projects that increase infrastructure capacity for planned growth, excluding maintenance or repair costs unless they simultaneously increase carrying capacity, and excluding projects solely for mass transit or electrical utilities.

Eligible project costs include planning, design, feasibility studies, construction, and materials, with loans requiring approval by the respective county council or state agency.

Appropriates unspecified sums from general revenues for fiscal years 2015-2016 and 2016-2017 to establish the fund, make loans, and cover implementation and administration costs; takes effect July 1, 2015.