summary
Introduced
01/23/2025
01/23/2025
In Committee
04/04/2025
04/04/2025
Crossed Over
03/04/2025
03/04/2025
Passed
Dead
Introduced Session
2025 Regular Session
Bill Summary
Requires conditions placed on appropriations to the Stadium Development Special Fund to be met before expenditure. Restricts private donations to the Stadium Authority to use on stadium infrastructure and stadium development costs. Appropriates funds out of the Stadium Development Special Fund, subject to the completion of specific project readiness conditions. Requires certain moneys expended to be from private sources. Effective 7/1/2050. (SD1)
AI Summary
This bill addresses the development of a new Aloha Stadium entertainment district by modifying the existing stadium development special fund and establishing new conditions for its use. The bill amends the Hawaii Revised Statutes to clarify that gifts or grants from private sources can only be used for stadium infrastructure and related development costs. It appropriates $49.5 million for fiscal year 2025-2026 for the stadium development special fund, with the condition that the stadium authority must meet specific development timelines. The bill introduces a safeguard mechanism where any unexpended and unencumbered funds will automatically revert to the general fund if the project is terminated. Additionally, the bill specifies that any funds for fiscal year 2026-2027 must come solely from private gifts or grants. The legislation aims to provide a structured approach to funding and developing the new stadium, ensuring accountability and financial responsibility while supporting the creation of a new public-private partnership project for a modern stadium and entertainment district.
Committee Categories
Agriculture and Natural Resources, Budget and Finance, Business and Industry, Education
Sponsors (2)
Last Action
Received notice of disagreement (Hse. Com. No. 704). (on 04/11/2025)
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