HI HB2593

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $30,000,000 to assist Hawaii Renewable Resources, LLC with development of agricultural and renewable energy facilities on Oahu.

Funded facilities will include a material reprocessing plant for food and green waste, anaerobic digester systems, renewable natural gas production equipment, and FDA-certified animal feed production from processed food waste.

Project incorporates sustainable features including water recovery systems, soil amendment compost production, carbon dioxide recovery for greenhouse farming, and solar electricity generation.

Special purpose revenue bonds will be issued under Part V of Chapter 39A of Hawaii Revised Statutes relating to industrial enterprise bonds, with no direct investment or operational risk to the State or counties.

Bond issuance authorization lapses on June 30, 2021; refunding bonds may be issued through that date; Act becomes effective July 1, 2016.