HI HB1323

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds to assist manufacturing, processing, utility, and agricultural enterprises in Hawaii that participate in the EB-5 Immigrant Investment Program.

Allows foreign investors to invest minimum amounts of $500,000 (rural/targeted areas) or $1,000,000 (other areas) through the federal EB-5 program to create jobs and gain immigration status.

Establishes separate bond authorization programs for manufacturing enterprises (part III), processing enterprises (part IV), utilities providing electric, gas, or telecommunications services (part VI), and agricultural enterprises on important agricultural lands (part X).

Permits refunding of authorized bonds through June 30, 2019, and allows the Department to issue refunding bonds in whatever principal amounts necessary while complying with federal tax-exemption requirements.

Bond issuance authorization expires June 30, 2019, with the Act taking effect July 1, 2015; specific dollar amounts for each bond category were left blank in the bill.