Bill Text: HI HB242 | 2015 | Regular Session | Amended
Bill Title: Special Purpose Revenue Bonds; Seawater Air Conditioning Projects ($)
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2015-06-01 - Act 068, 05/29/2015 (Gov. Msg. No. 1168). [HB242 Detail]
Download: Hawaii-2015-HB242-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
242 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
S.D. 1 |
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STATE OF HAWAII |
C.D. 1 |
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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 27, 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 27, 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 Statutory material to be repealed is bracketed and stricken.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 28, 2015.
Report Title:
Special Purpose Revenue Bonds; Seawater Air Conditioning Projects
Description:
Extends the lapsing date to June 27, 2020, of the special purpose revenue bonds issued to assist Honolulu Seawater Air Conditioning in building seawater air conditioning projects on Oahu. (HB242 CD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
