HI SB1656

Authorizes the Director of Finance to issue general obligation bonds to the Department of Hawaiian Home Lands for planning, designing, and construction of a water pump storage hydroelectric facility in the Kohala Mountains on Hawaii Island.

Requires the Department of Hawaiian Home Lands to conduct a feasibility study evaluating projected costs, revenue potential, and environmental impacts, with findings due to the Legislature no later than 20 days before the 2028 regular session.

Mandates an Environmental Impact Statement under Hawaii Revised Statutes Chapter 343, including consultation with the Commission on Water Resource Management regarding water usage.

Requires the Department of Hawaiian Home Lands to submit annual progress reports to the Legislature detailing expenditures, milestones, and anticipated project timelines.

Appropriation does not lapse at the end of the fiscal biennium; however, any unencumbered moneys lapse on June 30, 2028; effective date is July 1, 2050.