HI HB1286

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $100,000,000 to assist BioEnergy Hawaii, LLC in establishing a cogeneration facility and related energy production facilities.

Requires the electrical output or biofuels energy from the facility to be made available to the general public through sales to electric utilities or refineries, and thermal fluid output to be available to manufacturing entrepreneurs in the area.

Authorizes the Department of Budget and Finance to issue refunding bonds after June 30, 2016 to refinance the original bonds, provided it complies with federal tax-exemption requirements.

Bond authorization expires on June 30, 2016.

Repeals Act 110, Session Laws of Hawaii 2009, which previously authorized special purpose revenue bonds for BioEnergy Hawaii, and takes effect July 1, 2011.