SB 1659 Summary

• Imposes a special assessment on rental motor vehicles rented in counties with populations between 100,000 and 200,000 (Maui County), with proceeds allocated to the state highway fund for the Lahaina bypass north; special assessment sunsets on June 30, 2035.

• Directs 50% of transient accommodations tax revenues collected from West Maui operators to the state highway fund for the Lahaina bypass north project.

• Authorizes issuance of general obligation bonds and revenue bonds (secured by rental motor vehicle surcharge tax revenues) to fund construction, maintenance, and repair of the Lahaina bypass north.

• Permits state highway fund expenditures for payment of principal and interest on revenue bonds issued for the Lahaina bypass north project.

• Requires the department of transportation to provide annual reports to the legislature on amounts collected and expended, and project progress, until completion.