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HI SB1288
Bill
Status
3/7/2017
Primary Sponsor
Michelle Kidani
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AI Summary
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Authorizes the Department of Budget and Finance to issue special purpose revenue bonds (in one or more series) to assist HPC Foods, Ltd., a Hawaii corporation, for capital improvement programs and facility construction.
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Specifies eligible uses for bond proceeds include processing and packing warehouse facilities, equipment for processing and packing, refrigeration facilities, and agricultural production including manufacturing and value-added products.
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Authorizes refunding of special purpose revenue bonds issued under this Act at any time through June 30, 2022, and thereafter, in compliance with federal tax-exemption requirements.
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Bond issuance authorization lapses on June 30, 2022.
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Act takes effect on July 31, 2150.
Legislative Description
Relating To Special Purpose Revenue Bonds For Hpc Foods, Ltd.
Appropriation ($)
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