Bill > HB2452

This bill authorizes the issuance of general obligation bonds, which are loans taken out by the state that must be repaid with interest. Before issuing these bonds, the state constitution requires a declaration of findings to ensure that the total debt, including existing and proposed bonds, does not exceed a constitutional limit. This bill provides those findings, detailing the state's current debt, projected revenues, and the estimated impact of the new bonds on the debt limit, concluding that the issuance will not cause the limit to be exceeded. It also specifies the maximum amount of bonds that can be issued, which is $ , and allows for the refunding of existing bonds to potentially secure better interest rates. The bill also includes a severability clause, meaning if any part of the law is found invalid, the rest will still stand, and it will take effect upon approval.

Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2452&year=2026