HI SB579

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds to assist House of Aloha Enterprises LLC with planning, designing, constructing, and equipping facilities in Hawaii.

Eligible uses for bond proceeds include manufacturing, processing, and distribution of value-added agricultural products, advanced materials, sustainable products, and fine art products.

Bonds qualify as assistance to a processing enterprise under Hawaii Revised Statutes part IV, chapter 39A, and the department may issue refunding bonds after June 30, 2026, in compliance with federal tax exemption requirements.

Bond issuance authorization expires on June 30, 2026; refunding authority extends beyond this date.

Act takes effect on July 1, 2050 (note: bond amount not specified in text provided).