Bill Text: HI SB618 | 2015 | Regular Session | Introduced

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Bill Title: Special Purpose Revenue Bonds; Seawater Air Conditioning Projects ($)

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2015-03-12 - Referred to EDB, FIN, referral sheet 30 [SB618 Detail]

Download: Hawaii-2015-SB618-Introduced.html

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THE SENATE	S.B. NO.	618
TWENTY-EIGHTH LEGISLATURE, 2015
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to seawater AIR CONDITIONING.

 

 

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

 

     SECTION 1.  Act 165, Session Laws of Hawaii 2007, as amended by section 1 of Act 155, Session Laws of Hawaii 2012, is amended by amending sections 4 and 5 to read as follows:

     "SECTION 4.  The department of budget and finance, from time to time, including times subsequent to [June 30, 2015,] June 30, 2020, may issue special purpose revenue bonds in whatever principal amounts the department determines 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.

     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, 2015.] June 30, 2020."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect on June 29, 2015.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Special Purpose Revenue Bonds; Seawater Air Conditioning Projects

 

Description:

Extends the lapsing date to 1/30/2020, of the special purpose revenue bonds issued to assist Honolulu Seawater Air Conditioning in building seawater air conditioning projects on Oahu.  Effective 1/29/2015.

 

 

 

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