HI SB522

Authorizes the issuance of general obligation bonds in the amount of $1,400,000 to the Agribusiness Development Corporation for the purchase of the Halaula agricultural parcel in north Kohala, Hawaii island.

Appropriates funds for fiscal year 2025-2026 to finance the purchase of the agricultural land identified as tax map key (3) 5-3-7:15.

Directs the Agribusiness Development Corporation to expend the appropriated funds for the purposes of acquiring and developing the agricultural parcel.

Allows appropriations to remain available beyond the fiscal biennium, with any unencumbered funds lapsing on June 30, 2028.

Takes effect on July 1, 2050.