HI HB2543

Authorizes the department of budget and finance to issue special purpose revenue bonds up to $50,000,000 to assist BioTork Hawaii LLC, a Delaware corporation.

Bonds will fund planning, permitting, design, construction, equipping, and operation of a facility to convert agricultural crops and by-products (albizia, sweet potatoes, papaya, sugarcane bagasse, molasses) into biofuels and high-protein feed.

Bonds are issued pursuant to part V, chapter 39A, Hawaii Revised Statutes, which authorizes special purpose revenue bonds for industrial enterprises.

Department of budget and finance may issue refunding bonds at any time, including after June 30, 2019, to refund the initial bonds or subsequent refunding bonds.

Authorization to issue bonds lapses on June 30, 2019; Act takes effect July 1, 2014.