HI HB628

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

Fund sources include county loan repayments with simple interest (set between unspecified percentage points below market rate with minimum and maximum limits), legislative appropriations, federal grants, private investor contributions, and voluntary contributions.

Eligible loans support counties, state agencies, and private developers for capital improvement projects including regional sewer, water, drainage systems, roads, and telecommunications/broadband that increase infrastructure capacity rather than provide maintenance.

Excludes loans solely for mass transit or electrical utilities, and prohibits funding for maintenance or repair costs unless the work simultaneously increases the infrastructure facility's carrying capacity.

Becomes effective July 1, 2050.