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HI SB2703
Bill
AI Summary
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Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $25,000,000 to assist SpinLaunch, Inc. in financing an electrically powered, kinetic launch system for small satellites.
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Bonds may be used for planning, design, construction, equipping, and land acquisition for the satellite launch system on the island of Hawaii.
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Authorization to issue bonds lapses on June 30, 2023, though the department may issue refunding bonds after that date to refinance existing bonds.
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Legislature finds the project creates non-rocket based orbital launch technology, reduces atmospheric pollution, generates construction spending, and creates long-term technical jobs.
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Act takes effect on July 1, 2050.
Legislative Description
Relating To Special Purpose Revenue Bonds To Assist Spinlaunch.
Special Purpose Revenue Bonds
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) Fukumoto, Johanson, C. Lee, Souki, Todd excused (5).
3/22/2018