Bill > SB522

This bill authorizes the issuance of $1,400,000 in general obligation bonds to the Agribusiness Development Corporation (ADC) to purchase the Halaula Agricultural Parcel, a specific piece of land in the north Kohala district of Hawaii island identified by tax map key (3) 5-3-7:15. The legislature recognizes that the north Kohala region has historically been underserved and lacks support for agricultural development, despite having fertile land and abundant resources. By enabling the ADC to purchase this parcel, the bill aims to stimulate agricultural production, create employment opportunities, improve food self-sufficiency, and revitalize the rural economy. The funds are appropriated for fiscal year 2025-2026, and the appropriation will not lapse until June 30, 2028. The bill specifically directs the director of finance to issue the bonds and requires the ADC to use the funds exclusively for purchasing the land for agricultural development, which may include sustainable farming, livestock, and agroforestry practices. The bill is set to take effect on July 1, 2050.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=522&year=2025