Report Title:

Airport Passenger Facility Charge Special Fund

 

Description:

To provide the Airports Division, Department of Transportation with additional financing options utilizing its Passenger Facility Charge (PFC) revenues to construct airports capital improvement projects (CIP) and to provide the statutory framework to permit the execution of these financial options.

 


HOUSE OF REPRESENTATIVES

H.B. NO.

1166

TWENTY-FIFTH LEGISLATURE, 2009

 

STATE OF HAWAII

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO THE PASSENGER FACILITY CHARGE SPECIAL FUND.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


SECTION 1. Section 261-5.5, Hawaii Revised Statutes, is amended to read as follows:

"261-5.5 Passenger facility charge special fund. (a) There is established in the state treasury the passenger facility charge special fund, into which shall be deposited all proceeds from the passenger facility charge.

[(b) Moneys in the passenger facility charge special fund shall be used for airport capital improvement program projects approved by the legislature.

(c)] (b) The director of transportation shall administer the passenger facility charge special fund.

(c) The passenger facility charge shall be a charge for the use and services of an undertaking for the purposes and within the meaning of Section 39-61(a)(1) and (a)(3).

(d) All moneys paid into the passenger facility charge special fund shall be appropriated, applied or expended by the department for airport capital improvement program projects approved by the legislature and as permitted under the Aviation Safety and Capacity Expansion Act of 1990, Pub. L. 101 508, Title IX, Subtitle B, 9110 and 9111, recodified as 49 U.S.C. 40117, as amended from time to time.

(e) Any resolution or certificate authorizing any issue of bonds relating to the use of passenger facility charge for an airport capital improvement program project approved by the legislature may establish other accounts within the passenger facility special fund and require the transfer of passenger facility charge into such accounts to pay debt service on said related bonds.

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 

BY REQUEST