HI HB379

Authorizes the Director of Finance to issue general obligation bonds (amount not specified in bill) for fiscal year 2015-2016 to finance planning, designing, constructing, equipping, and furnishing a new hospital in North Kona to be developed by Regional System V of the Hawaii Health Systems Corporation.

Appropriated bond proceeds shall be expended by Regional System V of the Hawaii Health Systems Corporation, with unencumbered funds lapsing as of June 30, 2018.

Allocates a portion of transient accommodations tax revenues (amount not specified in bill) to the Department of Budget and Finance for payment of expenses, including interest and debt service, related to the general obligation bond issuance for the North Kona hospital project.

Finds that Kona Community Hospital's 94-bed capacity is inadequate for West Hawaii's population and tourism growth, and that visitor industry should contribute to community infrastructure through the transient accommodations tax.

Act takes effect July 1, 2050.