HI SB2865

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not exceeding $40,000,000 to assist DIBSHawaii LLC in constructing a carbon capture storage utilization platform.

The platform will recover vented carbon dioxide emissions, scrub and liquify them into food grade liquid carbon dioxide for storage and utilization across the State.

Seventy-five percent of the recovered carbon dioxide is intended for agriculture and energy use, with twenty-five percent dedicated to the U.S. Department of Defense for renewable jet fuel production and carbon dioxide mineralization in concrete.

Authorization to issue bonds lapses on June 30, 2027, with provisions allowing refunding of bonds issued after that date if necessary.

Takes effect on July 1, 2022.