HI SB1076

Increases the cap for individual capital advancement contracts (CACs) between the Department of Transportation and private parties for harbor improvements from $2,000,000 to a blank amount to be determined (specific amount not filled in the bill text).

Increases the annual aggregate cap for all CACs entered into by the department from $5,000,000 to a blank amount to be determined (specific amount not filled in the bill text).

Changes the period for measuring the aggregate cap from calendar year to fiscal year.

Removes the requirement that CACs exceeding $2,000,000 must obtain legislative approval via concurrent resolution prior to execution.

Requires the Department of Transportation to submit annual reports to the Legislature detailing all executed CACs for the previous twelve-month period (December 1 to November 30) by twenty days prior to the regular session convening.