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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1505 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to state facilities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The Hawaii Revised Statutes is amended by adding a new chapter to be appropriately designated and to read as follows:
"Chapter
STATE FACILITY RENOVATION PARTNERSHIP PROGRAM
§ Definitions. As used in this chapter:
"Department" means the department of accounting and general services.
"Private investor" means a non-governmental entity.
§ State facility renovation partnership program; established. (a) There is established the state facility renovation partnership program to be administered by the department.
(b) The department shall conduct annually a comprehensive review of all facilities owned by the State and shall compile a list of priority facilities situated on state-owned land that it deems best suited for the state facility renovation partnership program.
(c) The department may enter into an agreement with any private investor for the sale of a priority facility compiled in subsection (b) to the private investor; provided that the agreement contains the following requirements:
(1) The State shall sell the facility to the private investor, who shall renovate and maintain the facility and may lease the facility to the State;
(2) The land upon which the facility rests shall not be sold to the private investor; provided that the land shall be leased to the private investor for a term that would, at a minimum, allow the private investor to recover the capital investment that has been made to the facility, including depreciation; and
(3) At the end of the lease term, the State shall have the option of purchasing the facility from the private investor for the remaining balance of the debt service costs incurred by the private investor.
(d) There is established the state facility renovation partnership special fund in the state treasury to be administered by the department and into which all funds derived from the state facility renovation partnership program shall be deposited. Funds in the special fund shall be used solely for the purposes of the state facility renovation partnership program.
(e) The department shall establish rules under chapter 91 to implement the purposes of this chapter."
SECTION 2. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
State facilities; Public-private Partnership
Description:
Establishes the State Facility Renovation Partnership Program.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.