THE SENATE
S.B. NO.
522
THIRTY-THIRD LEGISLATURE, 2025
STATE OF HAWAII
A BILL FOR AN ACT
relating to the halaula agricultural parcel.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that strategic investment in the State's agricultural sector, particularly in the north Kohala district of Hawaii island, is necessary to revitalize the State's agricultural industry. Despite north Kohala's fertile land and abundant natural resources, the region has been historically underserved, lacking the support required to realize its agricultural potential. Consequently, the State struggles with agricultural production and food security and relies on imported goods. Investment in this region would alleviate these challenges by revitalizing the agricultural industry, creating employment opportunities, and improving food self-sufficiency across the State.
The legislature further finds that the agribusiness development corporation is uniquely positioned to oversee the purchase, management, and responsible development of agricultural lands in this region. The Halaula agricultural parcel located in north Kohala offers significant potential for agricultural development, including sustainable agricultural practices, farming, livestock, and agroforestry. Authorizing the agribusiness development corporation to purchase this property will stimulate economic growth, support community initiatives, and revitalize the rural economy in north Kohala.
Accordingly, the purpose of this Act is to authorize the issuance of general obligation bonds to the agribusiness development corporation to complete the purchase of the fee simple interest in the Halaula agricultural parcel identified as tax map key: (3) 5-3-7:15.
SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $1,400,000 or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2025-2026 for the purpose of financing the purchase of a parcel of land for agricultural development identified as tax map key: (3) 5‑3‑7:15.
SECTION 3. The sum appropriated in section 2 of this Act shall be expended by the agribusiness development corporation for the purposes of this Act.
SECTION 4. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2028, shall lapse as of that date.
SECTION 5. This Act shall take effect on July 1, 2025.
INTRODUCED BY:
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Report Title:
ADC; North Kohala; GO Bonds; Agriculture; Agricultural Development; Appropriations
Description:
Authorizes the issuance of general obligation bonds to the Agribusiness Development Corporation for the purchase of the Halaula Agricultural Parcel for agricultural development.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.