HB1519 Summary

• Authorizes the director of finance to issue general obligation bonds with proceeds deposited into the convention center enterprise fund, subject to Hawaii Tourism Authority board approval before expenditure.

• Clarifies that convention center enterprise fund moneys may be used for ongoing or future major repair, maintenance, and improvement of the Hawaii Convention Center facility, which is 25 years old and requires capital improvements.

• Adds general obligation bond proceeds as a new funding source to the convention center enterprise fund, alongside existing revenues from transient accommodations tax, facility operations, and private contributions.

• Authorizes appropriation of funds from the convention center enterprise fund for fiscal year 2024-2025 for major repair, maintenance, and improvement of the convention center facility, with appropriations not lapsing until June 30, 2026.

• Declares that any appropriation under this Act exceeds the state general fund expenditure ceiling and identifies it as necessary to serve the public interest.