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HI HB423
Bill
Status
6/9/2011
Primary Sponsor
Hermina Morita
Click for details
AI Summary
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Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not exceeding $40,000,000 to assist Carbon Bio-Engineers, Inc. in establishing cogeneration and energy-production facilities across Hawaii.
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Requires the electrical output from these facilities to be sold to electric utilities serving the public, and thermal fluid output to be made available to manufacturing and processing businesses in the area.
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Bonds shall be issued under Hawaii Revised Statutes part V, chapter 39A, which governs special purpose revenue bonds for industrial enterprises.
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Authorization to issue bonds expires on June 30, 2016, though the Department may issue refunding bonds after that date to refinance existing bonds.
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Act takes effect on July 1, 2011.
Legislative Description
Special Purpose Revenue Bonds; Carbon Bio-Engineers, Inc.
Last Action
(H) Act 088, on 6/8/2011 (Gov. Msg. No. 1191).
6/9/2011