HI SB1483

Amends Act 164, Session Laws of Hawaii 2023 (as amended by Act 230, SLH 2024) by adding Section 15.4 to authorize the Department of Transportation to issue highway revenue bonds for highway capital improvement projects.

Highway revenue bonds may be issued in principal amounts necessary to yield appropriated amounts for capital improvement projects, pay interest during construction, establish reserves, and cover issuance expenses.

Bond debt service shall be payable from highway revenues, fuel taxes, vehicle weight taxes, vehicle registration fees, federal highway funds, and other user taxes and fees derived from highway ownership and operation.

Allows the Governor discretionary authority to use the state highway fund to finance projects designated for highway revenue bond funding.

Takes effect July 1, 2050.