HI SB2970

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $50,000,000 to assist Biotork Hawaii, LLC with planning, permitting, design, construction, equipping, and operation of a biofuel conversion facility

Facility will convert agricultural crops and byproducts including albizia, sweet potatoes, papaya, sugar cane bagasse, and molasses into biofuels and high protein feed

Bonds may be issued in one or more series pursuant to Hawaii Revised Statutes Part V, Chapter 39A, for industrial enterprise assistance

Department of Budget and Finance authorized to issue refunding bonds after June 30, 2019 to refund outstanding bonds issued under this Act

Authorization to issue bonds lapses on June 30, 2019; Act becomes effective July 1, 2050