HI SB1456

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds not to exceed $100,000,000 to assist Honokaa Land Company, LLC with agricultural development projects.

Authorized bond proceeds may be used for acquiring, developing, and renovating facilities including rebuilding structures for a soil and earth products business at the Haina Mill, purchasing an agriculture consulting firm, acquiring or building organic dairies, and promoting renewable energy initiatives.

Allows the department to issue refunding bonds after June 30, 2028 to refinance the authorized bonds, provided federal tax exemption requirements are met.

Authorization to issue bonds under this Act expires on June 30, 2028.

Effective date is July 1, 2050.