HI HB688

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $50,000,000 to assist Keahole Hotel & Suites LLC with a hotel project at Ellison Onizuka Kona International Airport at Keahole.

Bonds may be issued in one or more series for planning, designing, constructing, and equipping the hotel facilities under part V, chapter 39A, Hawaii Revised Statutes.

Authorizes the department to issue refunding bonds after June 30, 2026, to refund outstanding special purpose revenue bonds while complying with federal tax-exemption requirements.

Bond issuance authorization expires on June 30, 2026.

Takes effect on July 1, 2021.