The state Senate unanimously voted to pass Senate Bill 2012 (SB 2012), known as “The Invest in Hawai‘i Act of 2012,” on Tuesday.
The bill now moves to the House of Representatives for a vote.
“We have a harmonic convergence of events which greatly favors utilization of ‘The Invest in Hawai‘i Act,’” said state Sen. Ronald Kouchi, D-Kaua‘i and Ni‘ihau, Senate Majority Caucus Leader.
“Not only will $500 million for repairs and maintenance get our citizens back to work and stimulate the economy, we have the opportunity to utilize historically low interest rates, low materials cost and a strong competitive bidding environment, which will allow us to greatly extend the useful life of our state buildings and infrastructure,” Kouchi said.
Kouchi said this will prevent the need to rebuild replacement structures and will allow more efficient use of existing structures.
“For example, on Kaua‘i, renovations to the vacant Lihu‘e Courthouse will allow state agencies to move into state-owned buildings, resulting in rental savings which will more than pay for the renovations,” Kouchi said.
In order to expedite a backlog of repair and maintenance projects, the Invest in Hawai‘i Act would revise the state’s permitting, approval and procurement process to expedite the creation of jobs and facilitate the return to work for many residents.
“Investing now in needed state capital projects will have a direct positive impact on our economy,” said Sen. David Ige, chair of the Senate Committee on Ways and Means during the bill’s introduction on Jan. 27. “With interest rates at a historic low, there has been no better time to make a significant investment in our state’s infrastructure.”
A priority of the bill is to develop sustainable and renewable energy resources such as photovoltaic technology, states a news release from the state Legislature.
“We have direct control over energy costs, and the repair and maintenance projects scheduled will utilize energy-efficient materials and sustainable and renewable energy strategies, reducing our dependency on fossil fuels,” Kouchi said. “Furthermore, the repairs and maintenance for schools will result in a better learning environment for our children.”
SB 2012 was introduced as an obligation bond-funded Capital Improvement Program package aimed at creating jobs by investing and stimulating Hawai‘i’s local economy from all islands.
Projects under consideration will focus on repair and maintenance needs to address aging infrastructure concerns and to extend the useful life of state-owned assets and facilities, states the news release from the Legislature, adding that the initiative could create more than 5,000 jobs.
Visit www.capitol.hawaii.gov for more information.
• Dennis Fujimoto, photographer and staff writer, can be reached at 245-3681 (ext. 253) or dfujimoto@ thegardenisland.com.
