HI HB867

Authorizes the director of finance to issue general obligation bonds to support the Pacific International Space Center for Exploration Systems' basalt rebar initiative.

Funds will support construction of a basalt rebar plant and engineering assessments of manufactured basalt rebar, with initial production using imported basalt fibers.

Basalt rebar weighs 25 percent less and is 200 percent stronger than steel rebar, reducing steel rebar imports and supporting the state's goal of creating 80,000 technology jobs with salaries of $80,000 or above by 2030.

Appropriation is for fiscal year 2015-2016 and shall not lapse at the end of the fiscal biennium; unencumbered moneys lapse as of June 30, 2018.

The bill takes effect on February 19, 2025.