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HI HB2287
Bill
Status
1/23/2020
Primary Sponsor
Scott Saiki
Click for details
AI Summary
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Amends Hawaii Revised Statutes Section 103D-709(e) to remove the $10,000 cap on cash or protest bonds for procurement contracts valued at $1,000,000 or more.
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Changes the bond requirement for contracts valued at $1,000,000 or more from "one-half per cent of the estimated contract value, not to exceed $10,000" to simply "one-half per cent of the estimated contract value" with no maximum limit.
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Retains existing bond amounts of $1,000 for contracts under $500,000 and $2,000 for contracts valued between $500,000 and $1,000,000.
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Preserves the requirement that bonds are returned to the party if they prevail in the administrative proceeding, or deposited into the general fund if they do not prevail.
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Takes effect on January 1, 2050.
Legislative Description
Relating To Procurement.
Procurement
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Holt, Takayama excused (2).
2/14/2020