HI HB1164

Adds Section 15.4 to Act 164, Session Laws of Hawaii 2023 authorizing the Department of Transportation to issue highway revenue bonds for highway capital improvement projects listed in the act.

Highway revenue bonds may be issued in principal amounts necessary to fund capital projects, pay interest during construction, establish reserves, and cover issuance expenses, pursuant to Hawaii Revised Statutes chapter 39, part III.

Bond principal and interest are secured by highway revenues, highway fuel taxes, vehicle weight taxes, vehicle registration fees, federal highway funds, and other user taxes or fees related to highways and related facilities.

Authorizes the governor to use the state highway fund to finance projects designated for highway revenue bond funding, at the governor's discretion.

Takes effect January 1, 3000 (placeholder date).