Bill > SB2694

This bill allows the Public Utilities Commission (PUC) to create automatic adjustment mechanisms, which are ways for water carriers to change their rates between formal rate increase applications, to help them deal with economic factors like inflation. Specifically, the PUC must establish a water carrier inflationary cost index automatic adjustment mechanism by July 1, 2026, for carriers transporting property, which will adjust rates annually based on changes in wharfage rates set by the department of transportation's harbors division, with a cap of five percent per year, and will operate on a three-year cycle. The bill also grants the PUC the authority to waive or exempt any water carrier from requirements under the Hawaii Water Carrier Act if it determines it's not just, reasonable, or in the public interest. This legislation is set to expire on July 1, 2033, but will take effect on July 1, 2050, with a provision to revert the changes to section 271G-17 of the Hawaii Revised Statutes back to its original form before the effective date.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2694&year=2026