HI HB1102

Increases the threshold for capital advancement contracts the Department of Transportation may execute without legislative approval from $2,000,000 to $5,000,000.

Raises the total aggregate value limit of all capital advancement contracts entered into by the department in any fiscal year from $5,000,000 to $20,000,000.

Eliminates the requirement that contracts exceeding $2,000,000 must obtain legislative approval via concurrent resolution.

Requires the department to submit an annual report to the legislature detailing all executed capital advancement contracts for the previous twelve-month period (December 1 to November 30), due no later than twenty days before each regular legislative session beginning in 2024.