HB 2545 Summary

• Authorizes the Director of Finance to issue $71,700,000 in general obligation bonds for fiscal year 2024-2025 to fund 10 Department of Agriculture agricultural infrastructure projects, including irrigation system improvements, agricultural park improvements, and reservoir safety upgrades.

• Authorizes the Director of Finance to issue $284,281,426 in general obligation bonds for fiscal year 2024-2025 to fund 11 Agribusiness Development Corporation projects, including the Reclaimed Wastewater System in Wahiawa ($178,000,000) and agricultural land development across multiple islands.

• Appropriates total bond funding of $355,981,426 for capital improvement projects designed to maintain irrigation systems, develop agricultural land resources, and support Hawaii's agriculture industry infrastructure.

• Allows appropriations to remain available through June 30, 2026, with any unencumbered funds lapsing on that date.

• Takes effect on July 1, 2024.