Bill Text: HI HB1846 | 2012 | Regular Session | Introduced
Bill Title: Wahiawa General Hospital; SPRB
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2012-02-03 - (H) Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Awana excused (1). [HB1846 Detail]
Download: Hawaii-2012-HB1846-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1846 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST WAHIAWA GENERAL HOSPITAL.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds and declares that the issuance of special purpose revenue bonds under this Act is in the public interest and is beneficial to the public health, safety, and general welfare.
SECTION 2. Pursuant to part II, 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 $3,000,000, in one or more series, for the purpose of assisting Wahiawa General Hospital, a nonprofit corporation, in financing, refinancing, or reimbursing costs related to the construction of health care facilities. The legislature finds and determines that the activities and facilities of Wahiawa General Hospital constitute projects as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing, refinancing and/or reimbursing thereof constitutes assistance to a not-for-profit corporation that provides health care facilities to the general public.
SECTION 3. The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part II, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist not—for-profit corporations that provide health care facilities to the general public.
SECTION 4. The department of budget and finance is authorized, from time to time, including times subsequent to June 30, 2017, 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 projects 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. Such refunding special purpose revenue bonds may be issued in one or more series for the refunding of the special purpose revenue bonds authorized in section 2 or this section and may be combined into a single issue of refunding special purpose revenue bonds, in one or more series, with refunding special purpose revenue bonds to be issued by the department to refund any other special purpose revenue bonds authorized by any one or more other separate acts of the legislature pursuant to part II, chapter 39A, Hawaii Revised Statutes.
SECTION 5. The authorization to issue special purpose revenue bonds under this Act shall lapse on June 30, 2017.
SECTION 6. This Act shall take effect on July 1, 2012.
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INTRODUCED BY: |
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Report Title:
Wahiawa General Hospital; SPRB
Description:
Authorizes the issuance of special purpose revenue bonds of up to $3,000,000, for Wahiawa General Hospital to construct health care facilities. Effective July 1, 2012.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
