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HI SB715
Bill
Status
2/22/2021
Primary Sponsor
Kalani English
Click for details
AI Summary
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Authorizes the department of budget and finance to issue special purpose revenue bonds to assist Pueo Development, LLC with a master planned development on approximately 150 acres of Department of Hawaiian Home Lands in Waiohuli, Maui.
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The proposed development will include low- and moderate-income housing units, rental housing units, elderly care units, alternative energy development systems, and infrastructure including roads and utilities.
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Bond issuance is authorized pursuant to part IX, chapter 39A, Hawaii Revised Statutes, with specific bond amount to be determined; authorization lapses on June 30, 2026.
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Department of budget and finance may issue refunding bonds after June 30, 2026, in compliance with federal tax exemption requirements for bond interest.
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Act takes effect on July 1, 3021 (note: appears to contain typographical error; likely intended as 2021).
Legislative Description
Relating To The Issuance Of Special Purpose Revenue Bonds To Assist Pueo Development, Llc.
Low-income Housing
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 none excused (0).
3/25/2021