HI HB2490

Amends Section 266-19.5 of Hawaii Revised Statutes to increase the threshold for Department of Transportation capital advancement contracts that can be executed without legislative approval (specific dollar amount to be filled in).

Increases the total aggregate value cap for all capital advancement contracts the DOT can enter into during a fiscal year (specific dollar amount to be filled in).

Changes the measurement period for aggregate contract caps from "calendar year" to "fiscal year."

Eliminates the requirement for legislative approval via concurrent resolution for capital advancement contracts exceeding the single-contract threshold.

Requires the Department of Transportation to submit an annual report to the legislature detailing all executed capital advancement contracts from the previous 12-month period (December 1 to November 30), due at least 20 days before each regular legislative session beginning in 2025.