HI SB1223

Reauthorizes the issuance of special purpose revenue bonds to assist MauiGrown Coffee, Inc., whose previous authorization under Act 116 (Session Laws of Hawaii 2017) lapsed on June 30, 2022.

Authorizes the Department of Budget and Finance to issue up to $30 million in special purpose revenue bonds to support the expanded operation of MauiGrown Coffee's farm and mill in Puukolii, Maui.

Permits the department to issue refunding bonds after June 30, 2028, to refinance the original bonds and any subsequent refunding bonds, subject to federal tax exemption requirements.

Authorization to issue new bonds expires on June 30, 2028, though refunding authority extends beyond that date.

Act takes effect on July 1, 2050.