HI SB1456

Authorizes the Department of Budget and Finance to issue special purpose revenue bonds up to $100,000,000 to assist Honokaa Land Company, LLC with acquiring, developing, and renovating agricultural facilities.

Approved projects include rebuilding structures at the Haina Mill for a soil and earth products business, purchasing an agriculture consulting and research firm, acquiring or building organic dairies, promoting renewable energy initiatives, and developing agricultural employee housing.

Bonds may be refunded after issuance, including after June 30, 2028, as long as the refunding complies with federal tax-exemption requirements.

Authorization to issue bonds expires on June 30, 2028.

Act takes effect on July 1, 2050.