Managers present bond and constitutional amendment pairing to permit resilient infrastructure bonds

Senate and House managers described a pair of connected measures aimed at allowing counties to issue "resilient infrastructure for shelter and equity" bonds while excluding those bonds from county debt-limit calculations if voters ratify a constitutional amendment.

Managers said SB 3218 amends state law so counties could exclude resilient-infrastructure-for-shelter-and-equity bonds from their funded-debt calculations if a constitutional amendment authorizing that treatment is ratified. They said copies of agreed CD1 language were distributed to managers but committee clearance and final releases remained outstanding.

On SB 3219, managers said they were submitting proposed ballot language to the governor's office and read the question aloud for the committee. The recorded reading included: "Shall the Hawaii State Constitution be amended to direct the legislature to authorize the counties to issue resilient infrastructure for shelter and equity bonds to fund public improvements and designated district repaid solely by future growth and property tax revenues within those districts, not increasing real property taxes where such bonds are excluded from the county's debt limit and are subject to accountability and oversight requirements as may be provided by law?" Managers described the two measures as linked and said they would reconvene on Monday, April 27 at 10:10 a.m. in Room 224 to continue consideration.

Managers characterized the measure as significant to the development community and noted the need for committee and agency clearances before final release to the public.