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HI SB1255
Bill
Status
3/3/2017
Primary Sponsor
Lorraine Inouye
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AI Summary
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Authorizes the Department of Budget and Finance to issue special purpose revenue bonds to assist Honokaa Land Company, LLC, a domestic limited liability corporation, with acquiring, developing, and renovating agricultural facilities.
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Funded projects include rebuilding structures at the Haina Mill site for soil development and greenhouse facilities, converting the Hawi site to organic production, developing cover crops, upgrading existing structures, and constructing pasteurization facilities and a creamery/cheesery.
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Permits use of bond proceeds to support conversion to renewable energy sources, including solar and wind energy.
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Allows the Department of Budget and Finance to issue refunding bonds after June 30, 2022, to refinance the original bonds issued under this Act.
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Authorization to issue bonds lapses on June 30, 2022; the Act takes effect on July 31, 2150.
Legislative Description
Relating To The Issuance Of Special Purpose Revenue Bonds To Honokaa Land Company, Llc.
Special Purpose Revenue Bonds
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Aquino, DeCoite, Har, Ichiyama, C. Lee, Thielen excused (6).
3/24/2017