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HI SB256
Bill
Status
2/18/2021
Primary Sponsor
Lorraine Inouye
Click for details
AI Summary
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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 planning, designing, constructing, and equipping a hotel facility at Ellison Onizuka Kona International Airport at Keahole.
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Bonds may be issued in one or more series under part V, chapter 39A, Hawaii Revised Statutes, and the project qualifies as assistance to an industrial enterprise.
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Authorizes the Department of Budget and Finance to issue refunding bonds after June 30, 2026, to refinance the original bonds and subsequent refunding bonds in compliance with federal tax-exemption requirements.
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The authorization to issue special purpose revenue bonds expires on June 30, 2026.
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The Act takes effect on July 1, 2050.
Legislative Description
Relating To Special Purpose Revenue Bonds To Assist Keahole Hotel & Suites Llc.
Special Purpose Revenue Bonds
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) Wildberger voting aye with reservations; none voting no (0) and none excused (0).
3/25/2021