HI SB1541

Appropriates funds from general revenues to the agribusiness development corporation for fiscal year 2025-2026 to pay off remaining bond debt service on the Waiahole water system, with a remaining balance of $4.5 million owed.

Appropriates funds from general revenues to the agribusiness development corporation for fiscal year 2025-2026 to repair the adit 8 tunnel of the Waiahole water system, a critical maintenance project requiring $2 million in design and construction costs.

Waiahole water system is a 26.4-mile gravity-fed water system built in 1912-1916 that serves approximately 5,600 acres of agricultural and non-agricultural land in central and leeward Oahu, contributing $135 million to the state economy and supporting approximately 2,000 jobs as of 2012.

Current agricultural water rates of 99.850 cents per 1,000 gallons are nearly double comparable rates of 50 cents per 1,000 gallons, with 40 percent of system revenue currently dedicated to debt service that increases consumer food prices.

Takes effect July 1, 3000.