HI SB3225

Establishes a dam and spillway improvement loan program administered by the Department of Land and Natural Resources under Chapter 39, Part III, with loans available for plans, design, construction, and equipment to improve deficient high hazard and significant hazard dams and spillways.

Creates a dam and spillway improvement grant program providing funding to private dam owners for improvements to deficient dams and spillways, with grant awards subject to board approval and specific eligibility requirements.

Establishes a dam and spillway improvement revolving fund to receive revenues from the loan program and legislative appropriations to support awarding of loans or grants.

Provides an income tax credit for private dam owners who make expenditures for dam and spillway improvements that bring dams and spillways up to code, with a specified annual cap on total credits allowed.

Appropriates unspecified funding for fiscal year 2022-2023 to seed the revolving fund and establish three full-time positions (planner, business loan officer, and accountant) in the department; takes effect July 1, 2050.