WeVote
Log In

Bill

Bill

SB 1476

RELATING TO CAPITAL ADVANCEMENT CONTRACTS.

2025 Regular Session Introduced by Ron Kouchi

SB 1476 streamlines capital advancement contracts for harbor improvements, enhancing funding and efficiency, benefiting the DOT, contractors, and local economies.

Referred to TCA, WAM.
#capitaladvancementcontracts #dot #harborimprovements
0
WeVote Research Nonpartisan
Bill Summary · SB 1476

Summary of SB 1476: Relating to Capital Advancement Contracts

Overview

Bill Number: SB 1476
Title: Relating to Capital Advancement Contracts
Status: Referred to TCA, WAM
Introduced: January 21, 2025
Classification: Bill
Subject: Capital Advancement Contracts, Department of Transportation (DOT), Harbor Improvements

SB 1476 is a legislative proposal aimed at enhancing the framework for capital advancement contracts, particularly in relation to harbor improvements managed by the Department of Transportation (DOT).

Purpose and Intent

The primary purpose of SB 1476 is to streamline and improve the processes associated with capital advancement contracts. These contracts are essential for financing and executing significant infrastructure projects, particularly those related to harbor facilities. The bill seeks to ensure that such contracts are managed efficiently, promoting better use of public funds and facilitating timely improvements to critical transportation infrastructure.

Key Provisions

While the specific provisions of the bill are not detailed in the provided information, it is expected that SB 1476 will include:

  • Regulatory Framework: Establishing clear guidelines for the negotiation and execution of capital advancement contracts.
  • Funding Mechanisms: Potentially outlining new funding sources or financial structures to support harbor improvements.
  • Accountability Measures: Implementing oversight mechanisms to ensure that contracts are executed effectively and that public funds are used responsibly.

Impact

The bill is likely to affect various stakeholders, including:

  • Department of Transportation (DOT): The agency will have clearer guidelines and potentially new funding mechanisms to support harbor improvement projects.
  • Contractors and Construction Firms: Companies involved in infrastructure development may benefit from streamlined processes and clearer expectations.
  • Local Communities: Improved harbor facilities could enhance local economies, increase trade efficiency, and provide better access to transportation networks.

Legislative Timeline

  • January 21, 2025: Bill introduced and pending introduction.
  • January 23, 2025: Passed First Reading.
  • January 27, 2025: Referred to the Transportation and Communications (TCA) and Ways and Means (WAM) committees for further consideration.

Related Bills

SB 1476 has a companion bill, HB 1157, which may address similar issues or provide additional context to the proposed changes in capital advancement contracts.

This summary provides a clear understanding of SB 1476's intent, provisions, and potential impacts, making it accessible for both legislative experts and the general public.

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

Sign in to ask a question.