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HI HB2607
Bill
Status
3/8/2016
Primary Sponsor
Joseph Souki
Click for details
AI Summary
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Authorizes the Department of Budget and Finance to issue special purpose revenue bonds to assist PQ Energy LLC and its special purpose entities in developing renewable energy plants within Hawaii that convert bio matter and renewable resources into clean, baseload energy.
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Electrical output from these facilities must be made available to the general public through sales to electric utilities or to federal, state, or county agencies in Hawaii.
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Establishes that renewable energy plant development qualifies as a project under Hawaii Revised Statutes part V, chapter 39A, and constitutes assistance to an industrial enterprise.
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Allows the Department of Budget and Finance to issue refunding bonds after July 1, 2021, to refinance the authorized bonds regardless of maturity status.
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Authorization to issue bonds expires June 30, 2021, and the Act takes effect July 1, 2016.
Legislative Description
Waste-to-energy Power; Renewable Energy; Sustainable Energy; Waste Management; Clean Energy; PQ Energy LLC; Special Purpose Revenue Bonds; Appropriation ($)
Last Action
Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
3/22/2016