HI HB2027

Establishes an Infrastructure Capacity Construction Loan Revolving Fund administered by the Department of Accounting and General Services to provide loans to private developers for infrastructure improvements.

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

Fund revenues shall come from legislative appropriations, federal grants, private investor contributions, and voluntary contributions, with expenses covering loans to developers and administration costs.

Allows the department to repay private investors for their investments plus accrued interest made into the fund to finance infrastructure capacity improvements.

Appropriates funds from general revenues for fiscal year 2016-2017 and from the revolving fund for loan making and administration, effective July 1, 2050.