HI SB256

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not exceeding $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.

Bonds issued under this Act shall be issued pursuant to Part V, Chapter 39A, Hawaii Revised Statutes, relating to special purpose revenue bonds for industrial enterprises.

Authorizes the Department of Budget and Finance to issue refunding special purpose revenue bonds after June 30, 2026 to refund outstanding bonds, subject to compliance with federal income tax exemption requirements.

Authorization to issue special purpose revenue bonds lapses on June 30, 2026.

Effective date is July 1, 2050.