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SCR 166

REQUESTING THE DIRECTOR OF FINANCE TO ISSUE GENERAL OBLIGATION BONDS FOR THE PURPOSE OF FINANCING THE AGRIBUSINESS DEVELOPMENT CORPORATION'S PURCHASE OF THE FEE SIMPLE INTEREST IN THE NORTH KOHALA KYNNERSLY EAST SITE LAND PARCEL FOR AGRICULTURAL DEVELOPMENT.

2025 Regular Session Introduced by Angus McKelvey and 1 co-sponsor

The bill requests issuing general obligation bonds to finance the ADC’s purchase of state land in North Kohala for agricultural development and related benefits.

Referred to EDT, WAM.
#agribusinessdevelopmentcorporation #directoroffinance #generalobligationbonds #northkohalakynnerslyeastsitelandparcel
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Bill Summary · SCR 166

SCR 166 – Summary

Overview

SCR 166 is a concurrent resolution introduced in the Hawaii Legislature (March 7, 2025) that requests the Director of Finance to issue general obligation bonds to finance the Agribusiness Development Corporation’s purchase of the fee simple interest in the North Kohala Kynnersly East Site land parcel for agricultural development. The resolution is currently referred to the Senate Committee on Economic Development, Tourism, and Technology (EDT) and the House Committee on Ways and Means (WAM). A companion bill is SR 135.

Purpose and intent

  • To support the growth and resilience of Hawaii’s agricultural sector by enabling strategic land acquisition in North Kohala.
  • To promote food self-sufficiency, support sustainable farming practices, protect and restore water resources and native ecosystems, and bolster rural economic development.
  • To leverage the Agribusiness Development Corporation’s (ADC) expertise to oversee purchase, management, and development of agricultural land in the region, maximizing benefits to the State’s agricultural economy and local communities.

Key provisions

  • The Director of Finance is requested to issue general obligation (GO) bonds to finance ADC’s purchase of the fee simple interest in the North Kohala Kynnersly East Site land parcel.
  • The target parcels are identified by tax map keys: (3) 5-3-4:19, (3) 5-4-11:18, and (3) 5-4-11:48.
  • The resolution directs that certified copies be transmitted to the Director of Finance and the Executive Director of the Agribusiness Development Corporation.
  • It is a concurrent resolution, meaning it expresses the Legislature’s position and request but does not itself appropriate funds or authorize expenditures.

Affected parties and stakeholders

  • Agribusiness Development Corporation (ADC) – potential purchaser and manager of the land.
  • Director of Finance – responsible for bond issuance if the resolution is to be implemented.
  • North Kohala community and local farmers – potential beneficiaries through access to land for agricultural development, water conservation, and job creation.
  • Hawaii state government and taxpayers – indirect impact via debt service on GO bonds and broader policy goals for agriculture and rural development.

Legislative status and process

  • Introduced: March 7, 2025.
  • Referred to: EDT (Senate) and WAM (House) on March 12, 2025.
  • Status indicates ongoing consideration by the relevant committees; as a concurrent resolution, it signals legislative support and intent rather than creating binding appropriations.

Background and context

  • The bill frames North Kohala as a region with valuable agricultural potential, suitable climate and soils, and a need to revive agricultural production and processing activities.
  • The ADC is highlighted as a key entity capable of guiding land acquisition and sustainable development in ways that align with environmental stewardship and long-term viability of Hawaii’s agricultural sector.

Financial and procedural notes

  • GO bonds would finance the ADC purchase, implying future debt service obligations funded by state revenues.
  • The resolution does not specify a price, repayment schedule, or funding source beyond the bond issuance itself; these details would typically be addressed in subsequent fiscal processes or legislative actions.

Related measures

  • Companion bill: SR 135.
  • Referred to both EDT and WAM, indicating joint consideration by Senate and House committees.

If you’d like, I can add a brief comparison with typical GO bond processes in Hawaii or outline potential fiscal implications for debt service and long-term obligations.

Compiled from official sources — confirm details with the bill’s official record.

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