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SB 1475

RELATING TO SPECIAL FACILITY REVENUE BONDS.

2025 Regular Session Introduced by Ron Kouchi

SB 1475 allows the state to issue special facility revenue bonds for harbor improvements, boosting trade efficiency and benefiting businesses and local economies.

Carried over to 2026 Regular Session.
#dot #harborimprovements #specialfacilityrevenuebonds
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WeVote Research Nonpartisan
Bill Summary · SB 1475

Summary of SB 1475: Relating to Special Facility Revenue Bonds

Bill Overview

Bill Number: SB 1475
Introduced On: January 21, 2025
Current Status: Reported from the Transportation and Communications Committee (TCA) with a recommendation for passage on Second Reading, as amended (SD 1), and referred to the Ways and Means Committee (WAM).
Subject Matter: Department of Transportation (DOT), Harbor Improvements, Special Facility Revenue Bonds

Purpose and Intent

The primary purpose of SB 1475 is to facilitate the issuance of special facility revenue bonds to support harbor improvements. These bonds are intended to provide necessary funding for infrastructure projects that enhance the operational capacity and efficiency of harbors, which are critical for trade and transportation.

Key Provisions

  • Issuance of Revenue Bonds: The bill authorizes the issuance of special facility revenue bonds specifically for harbor improvements. This financial mechanism allows the state to raise capital for necessary upgrades and expansions.
  • Amendments: The bill has been amended (SD 1) during its progression through the legislative process, though specific details of these amendments are not provided in the current summary.
  • Funding Allocation: While the exact dollar amounts and specific projects funded by these bonds are not detailed in the summary, the intent is to enhance harbor facilities, which may include improvements to docks, loading areas, and related infrastructure.

Affected Parties

  • State and Local Governments: The bill impacts state and local government entities involved in harbor management and transportation infrastructure.
  • Businesses and Industries: Companies that rely on harbor facilities for shipping and logistics will benefit from improved infrastructure, potentially leading to increased efficiency and reduced operational costs.
  • General Public: The public may experience indirect benefits through enhanced trade capabilities and economic growth resulting from improved harbor facilities.

Legislative Timeline

  • January 21, 2025: Bill introduced and pending introduction.
  • January 23, 2025: Passed First Reading.
  • January 27, 2025: Referred to TCA and WAM.
  • February 3, 2025: Public hearing scheduled for February 6, 2025.
  • February 6, 2025: TCA recommended the measure be passed with amendments; the vote was 4 Ayes, 0 Noes, and 1 Excused.
  • February 11, 2025: Report adopted; passed Second Reading, as amended (SD 1), and referred to WAM.

Related Legislation

  • HB 1156: This bill serves as a companion to SB 1475, suggesting a parallel legislative effort to address similar issues regarding special facility revenue bonds and harbor improvements.

Conclusion

SB 1475 represents a significant legislative effort to enhance harbor infrastructure through the issuance of special facility revenue bonds. By improving these critical facilities, the bill aims to bolster economic activity and improve transportation efficiency in the state. As the bill progresses through the legislative process, further details regarding specific projects and funding allocations are expected to emerge.

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

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