HI SB750

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $90,000,000 to assist Anaergia Incorporated in developing renewable energy and waste recovery facilities on Maui.

The project will process up to 700 tons per day of municipal solid waste, green waste, and sewage sludge through a material recovery facility, anaerobic digester, and renewable natural gas conversion equipment.

Electrical output from the facilities must be made available for public use through sales to electric utilities serving the public.

The bond authorization lapses on June 30, 2020, and the Act takes effect July 1, 2015.

Refunding authority granted to the Department of Budget and Finance for refinancing bonds issued under this Act, with compliance required for federal income tax exemption rules.