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HI HB992
Bill
Status
1/28/2015
Primary Sponsor
Sylvia Luke
Click for details
AI Summary
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Department of Budget and Finance authorized to issue special purpose revenue bonds under Hawaii Revised Statutes Part VI, Chapter 39A to assist Hawaiian Electric Company, Inc., Maui Electric Company, Limited, and Hawaii Electric Light Company, Inc. with capital improvement programs.
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Bonds may be used for acquisition of land or construction/acquisition of facilities related to production, transmission, or distribution of electricity; Public Utilities Commission approval required for any financed project.
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Total bond amount and distribution among the three utility companies to be determined (specific dollar amounts left blank in bill text).
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Department authorized to issue refunding bonds subsequent to June 30, 2020, to refinance the original bonds regardless of maturity status.
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Authorization to issue bonds expires June 30, 2020; Act takes effect July 1, 2015.
Legislative Description
SPRB; Special Purpose Revenue Bonds; Utilities; HECO ($)
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) DeCoite, Fukumoto Chang, Har, Oshiro, Tupola, Ward voting aye with reservations; Representative(s) Thielen voting no (1) and Representative(s) Ito excused (1).
2/20/2015