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Bill

SB 1475

RELATING TO SPECIAL FACILITY REVENUE BONDS.

2026 Regular Session Introduced by Ron Kouchi

Hawaii authorizes issuing special facility revenue bonds to finance public projects through user fees and facility revenues rather than general taxes.

Carried over to 2026 Regular Session.
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Bill Summary · SB 1475

Legislative bill overview

SB 1475 authorizes Hawaii to issue special facility revenue bonds, a financing mechanism that allows the state to fund specific projects or facilities through bonds repaid by revenues generated from those facilities rather than general taxpayer funds. The bill was introduced by Senator Ron Kouchi and has passed through initial committee review with amendments, though it was carried over to the 2026 regular session before final passage.

Why is this important

Special facility revenue bonds allow states to finance infrastructure, public facilities, or development projects without increasing general tax burden, as repayment comes from user fees or revenues specific to the project. This financing tool is commonly used for airports, parking facilities, utilities, or other revenue-generating public assets. The mechanism's availability can influence what projects Hawaii can realistically fund and at what cost to users versus general taxpayers.

Potential points of contention

  • Debt obligation details: The bill's specific terms—which facilities qualify, bond amounts, repayment timelines, and debt limits—determine the actual fiscal impact and whether projects are self-sustaining or require subsidies
  • User fees and affordability: Projects funded this way often charge user fees for repayment; this could increase costs for residents using those facilities, raising equity concerns
  • Transparency and oversight: Revenue bond financing can obscure true costs and create off-budget obligations; scrutiny of how revenues are projected and spent is critical to ensure accountability

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

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