HI SB585

Authorizes the Department of Budget and Finance to issue up to $180,000,000 in special purpose revenue bonds to assist Bana Pacific Inc., a Hawaii corporation, in constructing a biogas production facility.

The facility will convert locally sourced biomass, agricultural byproducts, and organic waste into biogas and renewable natural gas, with capabilities to produce green hydrogen using renewable energy sources.

The project aims to reduce Hawaii's dependence on imported fossil fuels, decrease methane emissions from landfills, and support the state's goal of 100% renewable energy by 2045.

The bond authorization period runs from July 1, 2025, through December 31, 2028, with the overall authorization lapsing on June 30, 2030.

The Act has an effective date of July 1, 2050.