HI SB3023

Establishes an infrastructure development loan revolving fund administered by the director of finance to provide no-interest loans for transit-oriented development projects.

Fund may receive appropriations, private contributions, loan repayments, federal funds, and other sources; a portion may be used for administrative expenses.

Loans support infrastructure development including planning, design, land acquisition, and utility improvements such as sewer, roads, drainage, bridges, and water systems.

Director must prioritize projects that increase regional or collector system infrastructure capacity rather than those serving only specific limited properties.

Department must submit annual reports to the legislature describing funded projects and applications received; takes effect July 1, 2016.