Bill > SB522

This bill authorizes the issuance of $1,400,000 in general obligation bonds to the Agribusiness Development Corporation (ADC) for purchasing 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 legislation aims to address Hawaii's agricultural challenges by investing in a strategically located parcel with significant potential for agricultural development, including sustainable farming, livestock, and agroforestry. The bill highlights the region's historical underservement and potential to improve food self-sufficiency, create employment opportunities, and stimulate rural economic growth. The funds are specifically appropriated for fiscal year 2025-2026, with the appropriation remaining available until June 30, 2028, after which any unencumbered funds will lapse. The ADC will be responsible for expending the funds and managing the land purchase, with the ultimate goal of revitalizing the state's agricultural industry. 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=2026