Bill > SB1589

This bill modifies the Stadium Development Special Fund to establish clearer guidelines for its use and management, focusing on the New Aloha Stadium Entertainment District project. The bill requires that any gifts or grants from private sources deposited into the fund can only be used for stadium-related infrastructure and development costs. It mandates that if the stadium project is terminated, any unexpended and unencumbered funds in the special fund will immediately lapse back to the general fund. The legislation appropriates funds for fiscal years 2025-2026 and 2026-2027, with the second year's funding contingent upon receiving private gifts or grants and meeting development timelines set by the stadium authority. The bill emphasizes the state's commitment to this public-private partnership project, which aims to complete a new stadium and district development by summer 2028, with key milestones to be achieved throughout 2025. The changes are designed to provide more transparency and accountability in the use of funds for this significant infrastructure project.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1589&year=2026