Bill Text: HI HR45 | 2012 | Regular Session | Introduced

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Bill Title: Infrastructure Investment Fund; Public-Private Partnerships; Construction; Investment; Pensions

Spectrum: Partisan Bill (Democrat 13-0)

Status: (Introduced - Dead) 2012-03-01 - (H) Referred to ERB, LAB, FIN, referral sheet 38 [HR45 Detail]

Download: Hawaii-2012-HR45-Introduced.html

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HOUSE OF REPRESENTATIVES	H.R. NO.	45
TWENTY-SIXTH LEGISLATURE, 2012
STATE OF HAWAII

HOUSE RESOLUTION

 

 

SUPPORTing tHE CONCEPT OF Infrastructure investment funds.

 

 

 

     WHEREAS, infrastructure investment funds provide a means for institutions and individuals to invest in public-private partnerships established to build and repair government facilities and systems; and

 

     WHEREAS, infrastructure investment funds can provide a stable, long-lived, high quality, inflation-hedged asset often desired by pension and superannuation plans; and

 

     WHEREAS, infrastructure investment funds provide a means for public sector pensions to invest in local infrastructure projects, thereby boosting local economies through increased construction while achieving public policy goals and offering pension holders an attractive risk-to-return profile; and

 

     WHEREAS, with the exception of railroads, the United States depends almost exclusively on government funds for construction of its public transportation infrastructure; and

 

     WHEREAS, public-private partnerships provide nongovernment sources of funding for public infrastructure projects; and

 

     WHEREAS, public-private partnerships can improve infrastructure efficiency by bundling maintenance and operations with the construction of the infrastructure project; and

 

     WHEREAS, public-private partnerships have an incentive to finish a project early and below budget because profits generally increase the earlier charges may be imposed on users; and

 

     WHEREAS, infrastructure investment funds can provide a gross target return of ten to fourteen per cent; and

 

     WHEREAS, infrastructure investment funds provide a variety of investment strategies, including termed investments focusing on terminal value, or funds without terms focusing on annual cash distributions; and

 

     WHEREAS, infrastructure investment funds can promote responsible contractors and subcontractors by investing solely in projects using a properly unionized workforce, ensuring proper safety protocols, and implementing other requirements of a responsible contractor policy; now, therefore,

 

     BE IT RESOLVED by the House of Representatives of the Twenty-sixth Legislature of the State of Hawaii, Regular Session of 2012, that the Legislature expresses support for the infrastructure investment fund concept; and

 

     BE IT FURTHER RESOLVED that certified copies of this Resolution be transmitted to the Governor, the Director of Commerce and Consumer Affairs, the Director of Finance, and the Director of Transportation.

 

 

 

	OFFERED BY:	_____________________________

Report Title: 

Infrastructure Investment Fund; Public-Private Partnerships; Construction; Investment; Pensions