Bill Text: HI HB2166 | 2022 | Regular Session | Amended
Bill Title: Relating To The Payment Of Debt Service On The Turtle Bay Reimbursable General Obligation Bonds.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-02-16 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Tokioka excused (1). [HB2166 Detail]
Download: Hawaii-2022-HB2166-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2166 |
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THIRTY-FIRST LEGISLATURE, 2022 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE PAYMENT OF DEBT SERVICE ON THE TURTLE BAY REIMBURSABLE GENERAL OBLIGATION BONDS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 173A-13, Hawaii Revised Statutes, is amended to read as follows:
"[[]§173A-13[]] Payment of debt service on the Turtle Bay
reimbursable general obligation bonds.
[Notwithstanding any laws to the contrary:
(1) Beginning July
1, 2015, a nonprofit land conservation organization shall file an application
annually with the board requesting $1,500,000 from the land conservation fund
for the reimbursement of debt service on the Turtle Bay reimbursable general obligation
bonds until the bonds are fully amortized;
(2) The board shall
not require the nonprofit land conservation organization that is the recipient
of a grant for the payment of debt service on the Turtle Bay reimbursable
general obligation bonds to provide any additional matching funds; and] (a)
The board
shall be responsible for the reimbursement of debt service on the Turtle Bay reimbursable general obligation bonds from the land conservation fund in the amount of $1,500,000 per fiscal year until the bonds are fully amortized.
[(3)] (b) Moneys [awarded] expended for
the payment of debt service on the Turtle Bay reimbursable general obligation
bonds shall be deposited into the Turtle Bay conservation easement special
fund."
SECTION 2. This Act does not affect rights and duties that matured and proceedings that were begun before its effective date.
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2050.
Report Title:
Turtle Bay Conservation Easement; Debt Service
Description:
Streamlines the process for completing the department of land and natural resources' required annual payment of debt service on the reimbursable general obligation bonds for Turtle Bay. 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.
