HI HB1157

Increases the maximum contract value for individual capital advancement contracts (CACs) executed by the Department of Transportation from $2,000,000 to $5,000,000 without requiring legislative approval.

Raises the total aggregate annual cap for all CACs entered into by the department from $5,000,000 to $20,000,000 per fiscal year.

Changes the aggregate cap calculation period from calendar year to fiscal year (July 1 to June 30).

Eliminates the requirement for legislative concurrent resolution approval when a single CAC exceeds $2,000,000.

Requires the Department of Transportation to submit annual reports to the legislature detailing all executed CACs for the previous twelve-month period, due no later than twenty days before the convening of the regular legislative session.