Bill > SB1547

This bill authorizes the Hawaii Department of Budget and Finance to issue special purpose revenue bonds (SPRBs) to support Aloun Kauai Farming LLC in developing an integrated dairy project. The bill allows the department to issue bonds in an unspecified total amount to help the agricultural enterprise with planning, design, construction, and maintenance of its dairy facilities. The authorization is specifically for the period from July 1, 2025, through December 31, 2028, and the ability to issue these bonds will lapse on June 30, 2030. The legislature declares that issuing these bonds is in the public interest and will benefit public health, safety, and general welfare. The bonds will be issued under Part X, Chapter 39A of Hawaii Revised Statutes, which governs special purpose revenue bonds for agricultural enterprises, and the department is also authorized to issue refunding bonds to refinance the original bonds if needed, while complying with federal tax law. Notably, the bill's effective date is listed as July 1, 3000, which appears to be a typographical error and likely means July 1, 2024 or another appropriate year.

Agriculture and Natural Resources, Budget and Finance

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1547&year=2026