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| 1 | - | HOUSE OF REPRESENTATIVES H.B. NO. 689 THIRTY-FIRST LEGISLATURE, 2021 | |
| 1 | + | HOUSE OF REPRESENTATIVES H.B. NO. 689 THIRTY-FIRST LEGISLATURE, 2021 STATE OF HAWAII A BILL FOR AN ACT relating to special purpose revenue bonds to assist house of aloha ENTERPRISES llc. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII: | |
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| 3 | 3 | HOUSE OF REPRESENTATIVES H.B. NO. 689 | |
| 4 | - | THIRTY-FIRST LEGISLATURE, 2021 | |
| 4 | + | THIRTY-FIRST LEGISLATURE, 2021 | |
| 5 | 5 | STATE OF HAWAII | |
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| 7 | 7 | HOUSE OF REPRESENTATIVES | |
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| 9 | 9 | H.B. NO. | |
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| 11 | 11 | 689 | |
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| 13 | 13 | THIRTY-FIRST LEGISLATURE, 2021 | |
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| 17 | 17 | STATE OF HAWAII | |
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| 31 | 31 | A BILL FOR AN ACT | |
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| 37 | 37 | relating to special purpose revenue bonds to assist house of aloha ENTERPRISES llc. | |
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| 43 | 43 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII: | |
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| 47 | - | SECTION 1. The legislature finds and declares that the issuance of special purpose revenue bonds under this Act is in the public interest and for the public health, safety, and general welfare. SECTION 2. Pursuant to part IV, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $100,000,000, in one or more series, for the purpose of assisting House of Aloha Enterprises LLC, a Hawaii limited liability company, with planning, designing, constructing, and equipping facilities for the manufacturing, processing, and distribution of products such as but not limited to the production of value-added agricultural, advanced materials, sustainable, and fine art products. The legislature hereby finds and determines that the planning, designing, constructing, and equipping of facilities for the manufacturing and processing of products such as the production of value-added agricultural products constitute a project as defined in part IV, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a processing enterprise. SECTION 3. The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part IV, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist processing enterprises. SECTION 4. The department of budget and finance is authorized, from time to time, including times subsequent to June 30, 2026, 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, 2026. SECTION 6. This Act shall take effect on July 1, | |
| 47 | + | SECTION 1. The legislature finds and declares that the issuance of special purpose revenue bonds under this Act is in the public interest and for the public health, safety, and general welfare. SECTION 2. Pursuant to part IV, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $100,000,000, in one or more series, for the purpose of assisting House of Aloha Enterprises LLC, a Hawaii limited liability company, with planning, designing, constructing, and equipping facilities for the manufacturing, processing, and distribution of products such as but not limited to the production of value-added agricultural, advanced materials, sustainable, and fine art products. The legislature hereby finds and determines that the planning, designing, constructing, and equipping of facilities for the manufacturing and processing of products such as the production of value-added agricultural products constitute a project as defined in part IV, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a processing enterprise. SECTION 3. The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part IV, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist processing enterprises. SECTION 4. The department of budget and finance is authorized, from time to time, including times subsequent to June 30, 2026, 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, 2026. SECTION 6. This Act shall take effect on July 1, 2021. INTRODUCED BY: _____________________________ | |
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| 49 | 49 | SECTION 1. The legislature finds and declares that the issuance of special purpose revenue bonds under this Act is in the public interest and for the public health, safety, and general welfare. | |
| 50 | 50 | ||
| 51 | 51 | SECTION 2. Pursuant to part IV, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $100,000,000, in one or more series, for the purpose of assisting House of Aloha Enterprises LLC, a Hawaii limited liability company, with planning, designing, constructing, and equipping facilities for the manufacturing, processing, and distribution of products such as but not limited to the production of value-added agricultural, advanced materials, sustainable, and fine art products. The legislature hereby finds and determines that the planning, designing, constructing, and equipping of facilities for the manufacturing and processing of products such as the production of value-added agricultural products constitute a project as defined in part IV, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a processing enterprise. | |
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| 53 | 53 | SECTION 3. The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part IV, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist processing enterprises. | |
| 54 | 54 | ||
| 55 | 55 | SECTION 4. The department of budget and finance is authorized, from time to time, including times subsequent to June 30, 2026, 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. | |
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| 57 | 57 | SECTION 5. The authorization to issue special purpose revenue bonds under this Act shall lapse on June 30, 2026. | |
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| 59 | - | SECTION 6. This Act shall take effect on July 1, | |
| 59 | + | SECTION 6. This Act shall take effect on July 1, 2021. | |
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| 61 | - | Report Title: Special Purpose Revenue Bonds; House of Aloha Enterprises LLC Description: Authorizes the issuance of special purpose revenue bonds to assist the House of Aloha Enterprises LLC, with planning, designing, constructing, and equipping facilities for the manufacturing and processing of certain products. Effective 7/1/2050. (HD1) The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent. | |
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| 63 | + | INTRODUCED BY: _____________________________ | |
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| 65 | + | INTRODUCED BY: | |
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| 67 | + | _____________________________ | |
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| 73 | + | Report Title: Special Purpose Revenue Bonds; House of Aloha Enterprises LLC Description: Authorizes the issuance of special purpose revenue bonds to assist the House of Aloha Enterprises LLC, with planning, designing, constructing, and equipping facilities for the manufacturing and processing of certain products. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent. | |
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| 67 | 79 | Report Title: | |
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| 69 | 81 | Special Purpose Revenue Bonds; House of Aloha Enterprises LLC | |
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| 71 | 83 | ||
| 72 | 84 | ||
| 73 | 85 | Description: | |
| 74 | 86 | ||
| 75 | - | Authorizes the issuance of special purpose revenue bonds to assist the House of Aloha Enterprises LLC, with planning, designing, constructing, and equipping facilities for the manufacturing and processing of certain products. | |
| 87 | + | Authorizes the issuance of special purpose revenue bonds to assist the House of Aloha Enterprises LLC, with planning, designing, constructing, and equipping facilities for the manufacturing and processing of certain products. | |
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| 83 | 95 | The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent. |