Hawaii House Bill HB1455

Hawaii 2024 Regular Session

• Introduced: 1/25/23
• Refer: 1/30/23

Caption

Relating To The Issuance Of Special Purpose Revenue Bonds To Assist Mauigrown Coffee, Inc.

Impact

The legislation allows the Department of Budget and Finance, with the Governor's approval, to issue special purpose revenue bonds totaling up to $30 million. This financial support is intended to assist MauiGrown Coffee, Inc. with its expansion plans, which are essential for enhancing agricultural production and employment opportunities in the region. The financial provisions of this bill are designed to bolster the agricultural landscape in Hawaii, providing necessary resources for local enterprises.

Summary

House Bill 1455 aims to reauthorize the issuance of special purpose revenue bonds to assist MauiGrown Coffee, Inc. in expanding its coffee farm and mill operations in Puukolii, Maui. Originally authorized by Act 116 in 2017, the issuance of these bonds lapsed on June 30, 2022. By renewing this authorization until June 30, 2028, the bill seeks to facilitate the growth of local agricultural enterprise, positioning MauiGrown Coffee as a key player in the state's economy and supporting Hawaii's agricultural sector.

Contention

While the discussion around HB 1455 primarily focuses on supporting agricultural growth, potential points of contention may arise around the allocation of state resources and fiscal responsibility in light of government debt. Additionally, there may be debates regarding the effectiveness of such financial assistance in promoting sustainable agricultural practices and ensuring fair competition among coffee producers in the state.