HI SB2866

Requires applicants for special purpose revenue bonds to seek pre-authorization certification from the Department of Budget and Finance no later than three months before the legislative session in which they seek bond authorization.

Establishes pre-authorization certification process for nine categories of special purpose revenue bonds: health care facilities, manufacturing enterprises, processing enterprises, industrial enterprises, energy projects, early childhood education and care facilities, private schools and universities, low- and moderate-income housing, and agricultural enterprises.

Sets application requirements for pre-authorization certification including project description, financing methods, construction cost estimates, feasibility studies or government agency letters, licensing/accreditation procedures, and audited financial statements for the most recent three years.

Department shall determine whether applicant qualifies as a "responsible party" based on submitted application materials before issuing pre-authorization certification.

Becomes effective upon approval.