HI HB1326

Appropriates state funds for a market assessment study to evaluate the feasibility of developing a basalt fiber manufacturing facility in Hawaii.

Identifies basalt fiber as a potential economic sector leveraging Hawaii's basalt resources, with applications in aerospace and terrestrial industries including rebar, mesh, rope, and fabric production.

Notes that basalt fiber products have superior properties including strength, durability, chemical resistance, thermal insulation, and radiation tolerance, with no current domestic producer in the United States.

Directs the Department of Business, Economic Development, and Tourism to conduct the market study to assess markets, timeframes, and other development drivers for a potential Hawaii-based basalt fiber and rebar manufacturing facility.

Establishes the effective date as July 1, 2038.