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HI SB2506
Bill
AI Summary
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Authorizes the department of budget and finance to issue special purpose revenue bonds up to $15,000,000 to assist TruTag Technologies, Inc. in financing manufacturing facilities in Hawaii.
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Bonds may be issued in one or more series for planning, construction, improvement, and equipping of the company's manufacturing facilities.
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Authorizes refunding of the special purpose revenue bonds after June 30, 2021, provided the department complies with federal tax exemption requirements.
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Authorization to issue bonds lapses on June 30, 2021.
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Takes effect July 1, 2016.
Legislative Description
SPRB; Special Purpose Revenue Bonds; TruTag Technologies, Inc. ($)
Last Action
Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Kawakami, Kong, Oshiro, Say, Souki, Tokioka excused (6).
3/17/2016