HI HB1054

Amends Section 103D-709 of the Hawaii Revised Statutes regarding cash or protest bond requirements for parties initiating administrative proceedings under the public procurement code.

Replaces fixed bond amounts ($1,000 for contracts under $500,000 and $2,000 for contracts $500,000 or more) with percentage-based amounts: 1% of estimated contract value for contracts under $1,000,000.

Increases bond requirement to 2% of estimated contract value for contracts valued at $1,000,000 or more, removing the previous $10,000 cap on required bond amounts.

Returns the bond to the initiating party if they prevail in the administrative proceeding; deposits the bond into the general fund if the initiating party does not prevail.

Takes effect July 1, 2112.