HI SB1476

Authorizes the department of budget and finance to issue special purpose revenue bonds not to exceed $100,000,000 to assist BioEnergy Hawaii, LLC establish a cogeneration facility and related energy production facilities.

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

Establishes that BioEnergy Hawaii, LLC activities constitute an industrial enterprise project under Hawaii Revised Statutes chapter 39A, part V, making them eligible for special purpose revenue bond financing.

Permits the department to issue refunding special purpose revenue bonds after June 30, 2016 to refinance the original bonds, provided federal tax exemption requirements are met.

Authorization to issue special purpose revenue bonds under this Act expires on June 30, 2016.