SB 585 Hawaii Senate · 2025 Regular Session

RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO ASSIST BANA PACIFIC INC.

SB 585 authorizes the state to issue special purpose revenue bonds to fund the construction of a biogas production facility by Bana Pacific Inc. The bill directly affects Bana Pacific Inc. as the recipient of the bond proceeds for its specific project. Key provisions include the issuance of non-tax-supported bonds tied solely to the facility's revenue, with no general state funding required. This policy change creates a targeted financing mechanism for the company's infrastructure development.

Issues: ✓ Energy ✓ Environment

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 17, 2025 Last action Feb 6, 2025

Maddy AI version diff · 1 comparison

What changed between versions

SB585 → SB585_SD1 · 3 edits

MINOR

The bill was reformatted from a Senate bill (SB) to a Senate draft (SD1), with minor text adjustments including the addition of a specific legislative override in Section 3 and a clarification in Section 6 regarding bond refunding. The core policy intent remains unchanged.

Scope change

The bill's scope and applicability remain unchanged; it still authorizes special purpose revenue bonds for Bana Pacific Inc. to build a biogas facility.

TECHNICAL

The document was converted from a Senate Bill (SB) format to a Senate Draft (SD1) format, which is a procedural change rather than a substantive policy change.

REQUIREMENT

Section 3 now explicitly overrides previous Acts (182 and 262) to authorize the bond issuance, clarifying the legal basis for the spending.

Section 6 was updated to clarify that refunding bonds may be issued for multi-project programs described in Section 4, adding specific guidance on how the bonds can be refunded.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 6, 2025

Committee

Reported from EIG (Stand. Com. Rep. No. 57) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Jan 28, 2025

Upper · Passed

The committee(s) on EIG recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in EIG were as follows: 3 Aye(s): Senator(s) Wakai, Richards, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Chang, DeCoite.

upper

Jan 24, 2025

Upper · Passed

The committee(s) on EIG has scheduled a public hearing on 01-28-25 3:15PM; Conference Room 016 & Videoconference.

upper

Jan 23, 2025

Committee

Referred to EIG, WAM.

upper

Jan 17, 2025

Introduced

Introduced.

upper

1 primary · 2 co-sponsors