HI SB3008

Authorizes the department of budget and finance to issue special purpose revenue bonds to assist Anaergia Inc. with developing renewable energy and waste recovery facilities on Maui, including a material recovery facility, anaerobic digester, and energy crop conversion facility.

Allows the bonds to finance projects that will reduce greenhouse gas emissions equivalent to 33,000 cars, create up to 60 new jobs, utilize approximately 1,800 acres of fallow land, and contribute to Hawaii's renewable energy goals and energy security.

Requires that electrical output from these facilities be made available for public use through sales to electric utilities serving the general public.

Permits the department to issue refunding bonds after June 30, 2019 to refinance the original bonds, provided federal tax exemption requirements are met.

Authorizes the issuance of special purpose revenue bonds through June 30, 2019, with the Act taking effect on July 1, 2050.