HI SB1404

Authorizes airport contractors, tenants, and users to reimburse the Department of Transportation for the entire amount of fines levied by federal, state, or county agencies for violations of environmental protection laws or U.S. Department of Homeland Security regulations, with reimbursement deposited into the airport revenue fund.

Allows the Department of Transportation to enter into capital advancement contracts with private parties for public airport improvements or construction when the director finds that private development is less costly, more timely, or needed when public financing is unavailable.

Capital advancement contracts up to $5,000,000 may be executed without legislative approval; contracts exceeding $5,000,000 require approval by concurrent resolution, with an annual aggregate limit of $50,000,000 across all capital advancement contracts.

Contracts may be financed through legislative appropriation or by credit against the private party's future rental or tariff payments, and shall not constitute general obligations of the State.

Takes effect July 1, 2050.