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THE SENATE |
S.B. NO. |
706 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to renewable HYDROGEN.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The director of finance is authorized to issue general obligation bonds in the sum of $3,000,000 or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2015-2016 for the development of an electrolysis process hydrogen production, storage, and dispensing facility.
SECTION 2. The sum appropriated shall be expended by the Hawaii strategic development corporation for the purposes of this Act.
SECTION 3. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2018, shall lapse as of that date.
SECTION 4. There is appropriated out of the general revenues of the State of Hawaii the sum of $1,800,000 or so much thereof as may be necessary for fiscal year 2015-2016 to be deposited into the hydrogen investment capital special fund established by section 211F-5.7, Hawaii Revised Statutes.
SECTION 5. There is appropriated out of the hydrogen investment capital special fund the sum of $1,800,000 or so much thereof as may be necessary for fiscal year 2015-2016 and the same sum or so much thereof as may be necessary for fiscal year 2016-2017 for operating costs for an electrolysis process hydrogen production, storage, and dispensing facility.
The sums appropriated shall be expended by the Hawaii strategic development corporation for the purposes of this Act.
SECTION 6. This Act shall take effect on July 1, 2015.
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INTRODUCED BY: |
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Report Title:
Hawaii Strategic Development Corporation; Hydrogen Investment Capital Special Fund; Electrolysis Process Hydrogen Production, Storage, and Dispensing Facility; General Obligation Bonds; Appropriation
Description:
Authorizes the issuance of general obligation bonds for the development of an electrolysis process hydrogen production, storage, and dispensing facility and appropriates funds into the hydrogen investment capital special fund under section 211F-5.7, Hawaii Revised Statutes, for the operation of the facility.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.