HI SB1400

Increases the threshold for Department of Transportation capital advancement contracts that can be executed without legislative approval from $2,000,000 to $5,000,000.

Eliminates the requirement for concurrent resolution approval for contracts between $2,000,000 and $5,000,000.

Raises the total aggregate annual value limit for all capital advancement contracts from $5,000,000 to $20,000,000 per fiscal year.

Requires the Department of Transportation to submit annual reports to the legislature detailing all executed capital advancement contracts for the previous twelve-month period (December 1 to November 30) at least twenty days before each regular legislative session beginning in 2024.