HI HB1157

Increases the threshold for Department of Transportation capital advancement contracts that can be executed without legislative approval from $2,000,000 to $5,000,000

Raises the total aggregate value cap for all capital advancement contracts from $5,000,000 to $20,000,000 per year

Changes the annual cap calculation period from calendar year to fiscal year

Eliminates the requirement for legislative approval via concurrent resolution for contracts exceeding $2,000,000

Requires the Department of Transportation to submit an annual report to the legislature on all executed capital advancement contracts for harbor improvements, due 20 days before each regular session starting in 2026