HI SB1208

Amends Section 103D-709, Hawaii Revised Statutes, to change protest bond requirements for procurement administrative proceedings based on estimated contract value.

For contracts under $500,000: replaces fixed $1,000 bond with one percent of the estimated contract value.

For contracts $500,000 to under $1,000,000: replaces fixed $2,000 bond with two and one-half percent of the estimated contract value.

For contracts $1,000,000 or more: increases bond from one-half percent to four and one-half percent of the estimated contract value.

Removes the $10,000 cap on the maximum protest bond amount that was previously in place.