HI SB1223

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

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds in an amount not to exceed $30 million to help MauiGrown Coffee, Inc. expand its coffee farm and mill operations in Puukolii, Maui.

Permits the Department of Budget and Finance to issue refunding bonds after June 30, 2028, to refinance the special purpose revenue bonds authorized under this Act, subject to federal tax-exemption requirements.

Sets the authorization to issue special purpose revenue bonds to expire on June 30, 2028.

Takes effect on July 1, 2050.