HI HB629

Requires the Board of Trustees of the Employees' Retirement System (ERS) to conduct a study on the viability of public-private partnerships for clean energy projects or water infrastructure improvements.

Study shall examine three potential benefits: tax exemptions for contractors, income tax exclusions for persons involved in ERS partnerships, and authorization for ERS to make direct investments in such public-private partnerships.

Tax benefits under consideration would apply to a percentage of direct construction and operation costs (materials, labor, equipment, and directly involved expenses), excluding general overhead costs.

ERS must submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days before the 2018 regular session convenes.

Appropriates unspecified funds to the ERS for both fiscal years 2017-2018 and 2018-2019 to conduct the study, effective July 1, 2017.