HI SB1473

Reduces the central services assessment transfer rate from 5% to 2.5% for the State Highway Fund, Airport Revenue Fund, and Harbor Special Fund.

Establishes an annual adjustment mechanism beginning September 30, 2025, where the director of transportation proposes percentage adjustments based on the Consumer Price Index for All Urban Consumers in the Honolulu area (excluding food and energy), subject to governor approval.

Allows for zero percent adjustment if the Consumer Price Index calculation would result in a negative percentage in any given year.

Applies the approved percentage adjustment to the 2.5% base amount, with the director of finance deducting any additional amounts from each respective fund.

Effective date: July 1, 3000 (appears to be a technical error in the legislation).