THE SENATE	S.B. NO.	2021
TWENTY-EIGHTH LEGISLATURE, 2016
STATE OF HAWAII

A BILL FOR AN ACT

relating to special purpose revenue bonds to assist bioenergy hawaii, llc.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The purpose of this Act is to extend the special purpose revenue bond authorization under Act 89, Session Laws of Hawaii 2011, to BioEnergy Hawaii, LLC, for the purpose of establishing a cogeneration facility and related energy production facilities to June 30, 2021.

     SECTION 2.  Act 89, Session Laws of Hawaii 2011, is amended by amending sections 4 and 5 to read as follows:

     "SECTION 4.  The department of budget and finance is authorized, from time to time, including times subsequent to [June 30, 2016,] June 30, 2021, to issue special purpose revenue bonds in whatever principal amounts the department shall determine to be necessary to refund the special purpose revenue bonds authorized in section 2 and to refund special purpose revenue bonds authorized in this section regardless of whether the outstanding special purpose revenue bonds or refunding special purpose revenue bonds have matured or are the subject of redemption or whether the refunding special purpose revenue bonds shall be bonds for the multi-project programs described in section 2.  In making this determination, the department shall comply with federal law relating to the exemption from federal income taxation of the interest on bonds of the nature authorized by this section.

     SECTION 5.  The authorization to issue special purpose revenue bonds under this Act shall lapse on [June 30, 2016.] June 30, 2021."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect on June 29, 2016.

INTRODUCED BY:

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Report Title:

Special Purpose Revenue Bond; SPRB; Biofuels; Cogeneration Facility

Description:

Extends the authorization of the issuance of special purpose revenue bonds to BioEnergy Hawaii, LLC, for the purpose of establishing a cogeneration facility and related energy production facilities, for an additional five years.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.