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HB 500

A BOND AND CAPITAL IMPROVEMENTS ACT OF THE STATE OF DELAWARE AND CERTAIN OF ITS AUTHORITIES FOR THE FISCAL YEAR ENDING JUNE 30, 2027; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE; APPROPRIATING FUNDS FROM THE TRANSPORTATION TRUST FUND; AUTHORIZING THE ISSUANCE OF REVENUE BONDS OF THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING SPECIAL FUNDS OF THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING GENERAL FUNDS OF THE STATE; REPROGRAMMING CERTAIN FUNDS OF THE STATE; SPECIFYING CERTAIN PROCEDURES, CONDITIONS AND LIMITATIONS FOR THE EXPENDITURE OF SUCH FUNDS; AND AMENDING CERTAIN STATUTORY PROVISIONS.

153rd General Assembly (2025-2026) Introduced by Bill Bush and 8 co-sponsors

Authorizes state general obligation bonds and Delaware Transportation Authority revenue bonds to finance capital projects and transportation infrastructure for FY2027.

Signed by Governor
0
WeVote Research Nonpartisan
Bill Summary · HB 500

Overview

HB 500 (Session 153, Delaware) is a comprehensive bond and capital improvements act for the fiscal year ending June 30, 2027. It authorizes the issuance of general obligation bonds by the State, allocates and reprograms funds from multiple sources (Transportation Trust Fund, Special Funds of the Delaware Transportation Authority, General Funds of the State, and General Funds reprogramming), and establishes procedures, conditions, and limitations for the expenditure of these funds. The bill also authorizes the Delaware Transportation Authority to issue revenue bonds and appropriates revenue and special funds related to transportation projects. In addition, it amends certain statutory provisions to effect these changes.

Main purpose and intent

  • To finance capital improvements and public infrastructure projects through a combination of bond issuance and fund appropriations.
  • To provide a funding framework for transportation-related projects and state capital needs for the 2027 fiscal year.
  • To authorize both general obligation bonds (State) and revenue bonds (Delaware Transportation Authority) as sources of funding.
  • To specify governance, eligibility, and expenditure rules governing these funds and projects.

Key provisions and changes

  • General Obligation Bonds: Authorizes the State to issue general obligation bonds to fund capital projects.
  • Transportation Trust Fund Appropriations: Appropriates funds from the Transportation Trust Fund to support eligible projects.
  • Revenue Bonds: Authorizes the Delaware Transportation Authority to issue revenue bonds to finance transportation-related infrastructure and improvements.
  • Special Funds Appropriation: Allocates and allocates-specific funds held by the Delaware Transportation Authority for designated purposes.
  • General Fund Appropriations: Allocates general state funds for capital programs and projects.
  • Reprogramming of Funds: Allows reprogramming of certain state funds to meet funding needs for priorities identified in the act.
  • Procedures, Conditions, and Limitations: Establishes rules governing how funds may be spent, including eligible uses, project approval processes, timing, and any caps or limits on expenditures.
  • Statutory Amendments: Makes amendments to existing statutes to align with funding and borrowing authorities granted under the act.
  • Oversight and Accountability: Likely includes reporting, reconciliation, and compliance mechanisms (typical for such acts), though specific provisions should be confirmed in the text.

Who/what would be affected

  • State government and its capital programs: Broad impact on funding for statewide infrastructure and capital projects.
  • Delaware Transportation Authority (DTA): Authority to issue revenue bonds and access to special funds for transportation-related projects.
  • Transportation Trust Fund: Allocation and use of funds for eligible transportation investments.
  • General Fund of the State: Potential use and reallocation of general state funds for capital purposes.
  • Contractors, developers, and project recipients: Entities that would receive funding or participate in projects financed under the act.
  • Taxpayers: Indirect impact via debt authorization and potential future tax implications or revenue mechanisms to support debt service.

Procedural and timeline aspects

  • Introduction and assignment: Introduced on 2026-06-25 and assigned to the Capital Infrastructure Committee.
  • Committee action: Reported out of the Capital Infrastructure Committee with a favorable vote (4 favorables) on 2026-06-25.
  • Legislative process: As a capital/bond act, the bill would proceed through committee approvals, potential amendments, and floor votes in the House, and then similar consideration in the Senate, followed by any governor’s signature or veto considerations (not specified in the provided action history).
  • Fiscal year alignment: The act targets the fiscal year ending June 30, 2027, aligning bond issuance and fund allocations with that period.
  • Compliance and reporting: While not detailed in the summary, such acts typically require annual reporting on bond issuance, fund use, and project progress.

Potential impact

  • Accelerated or enhanced funding for Delaware’s capital and transportation infrastructure through a structured mix of debt financing and fund allocations.
  • Expanded ability to undertake large-scale improvements via general obligation bonds and DTA revenue bonds.
  • Clarified governance and spending rules to improve project selection, timing, and accountability.
  • Potential implications for debt service and long-term fiscal planning, requiring consideration of interest costs and revenue sources to support debt.

Note: For precise details on project lists, bond amounts, interest rates, debt service schedules, and specific statutory amendments, the bill text should be consulted.

Compiled from official sources — confirm details with the bill’s official record.

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