HI HB2305

Establishes Regional State Infrastructure Improvement Subaccounts within the existing Dwelling Unit Revolving Fund to finance infrastructure improvements in areas of planned growth.

Authorizes the fund to provide grants to state agencies and loans to counties or private developers for capital improvements including regional sewer, water, drainage, roads, and telecommunications/broadband systems that increase infrastructure capacity.

Fund sources include loan repayments from special improvement districts and tax increment financing districts, legislative appropriations, federal grants, private investments, and voluntary contributions.

Eligible costs include planning, design, feasibility studies, construction, and materials, but exclude maintenance or repair work unless it simultaneously increases infrastructure carrying capacity; mass transit and electrical utilities are ineligible.

Allows the corporation to accept improved land from counties or private developers as loan repayment and authorizes private investor repayment with accrued interest; effective July 1, 2016.