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SR 135

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

Hawaii requests authorization to issue state bonds funding the Agribusiness Development Corporation's purchase of North Kohala agricultural land, committing taxpayers to long-term debt repayment.

Referred to EDT, WAM.
#agribusinessdevelopmentcorporation #directoroffinance #generalobligationbonds #northkohalakynnerslyeastsitelandparcel
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Bill Summary · SR 135

Legislative bill overview

SR 135 requests Hawaii's Director of Finance to issue general obligation bonds to fund the Agribusiness Development Corporation's purchase of fee simple land in North Kohala for agricultural development. This is a resolution seeking authorization for state debt financing of a specific agricultural land acquisition project rather than an appropriation bill itself.

Why is this important

Land acquisition for agricultural purposes directly affects food security, rural economic development, and land use patterns in Hawaii. Using state bonds (backed by taxpayer obligations) to finance this purchase represents a significant commitment of public resources and debt, with long-term fiscal implications for the state budget.

Potential points of contention

  • Debt burden justification: Whether general obligation bonds are the appropriate financing mechanism and how this compares to alternative funding sources or land-leasing arrangements
  • Project specifics and oversight: Insufficient public detail on the North Kohala site's viability, expected agricultural output, timeline to profitability, and accountability measures for the Agribusiness Development Corporation's use of public funds
  • Land ownership philosophy: Debate over whether state ownership of agricultural land is the best approach versus supporting private farmers or other models for ensuring productive agricultural use

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

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