REPORT TITLE:
Waste processing enterprises


DESCRIPTION:
Authorizes the issuance of special purpose revenue bonds to
assist waste processing enterprises.  (HB1595 HD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        1595
HOUSE OF REPRESENTATIVES                H.B. NO.           H.D. 1
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO THE ISSUANCE OF SPECIAL PURPOSE REVENUE BONDS TO
   ASSIST WASTE PROCESSING ENTERPRISES.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds that it is in the public
 
 2 interest to encourage the private development of one or more
 
 3 waste processing enterprises to convert waste materials into
 
 4 usable goods and remove these waste materials from the waste
 
 5 stream.  The legislature further finds that Plasma Environmental
 
 6 Technologies is engaged in the development of a waste processing
 
 7 enterprise that will convert waste materials to usable goods,
 
 8 removing these materials from the waste stream.
 
 9      The legislature further finds that Plasma Environmental
 
10 Technologies may be assisted through the issuance of special
 
11 purpose revenue bonds because waste processing enterprises
 
12 process waste into usable materials and are therefore processing
 
13 enterprises pursuant to part IV, chapter 39A, Hawaii Revised
 
14 Statutes.
 
15      The legislature further finds and declares that the issuance
 
16 of special purpose revenue bonds under this Act is in the public
 
17 interest and for the public health, safety, and general welfare
 
18 of the State.
 

 
Page 2                                                     1595
                                     H.B. NO.           H.D. 1
                                                        
                                                        

 
 1      SECTION 2.  Pursuant to part IV, chapter 39A, Hawaii Revised
 
 2 Statutes, the department of budget and finance, with the approval
 
 3 of the governor, is authorized to issue in one or more series
 
 4 special purpose revenue bonds in a total amount not to exceed
 
 5 $60,000,000 for the purpose of assisting Plasma Environmental
 
 6 Technologies, or a partnership in which Plasma Environmental
 
 7 Technologies or a wholly-owned subsidiary of Plasma Environmental
 
 8 Technologies is a general partner, for the establishment of one
 
 9 or more waste processing facilities.
 
10      The legislature also finds and determines that the
 
11 activities and facilities of Plasma Environmental Technologies
 
12 constitute a project as defined in part IV, chapter 39A, Hawaii
 
13 Revised Statutes, and the financing thereof is assistance to
 
14 processing enterprises.
 
15      The legislature also finds and determines that the
 
16 establishment of a waste processing facility on Kauai by Plasma
 
17 Environmental Technologies may have a significant effect on the
 
18 environment.  If the waste processing facility on Kauai does not
 
19 propose an action specified in section 343-5(a), Hawaii Revised
 
20 Statutes, the department of budget and finance shall not issue
 
21 any special purpose revenue bonds until an environmental impact
 
22 statement is prepared and accepted on the waste processing
 
23 facility in accordance with the other provisions of chapter 343,
 
24 Hawaii Revised Statutes.
 

 
Page 3                                                     1595
                                     H.B. NO.           H.D. 1
                                                        
                                                        

 
 1      No waste processing facility on Kauai established through
 
 2 the financing provided by this Act shall process waste generated
 
 3 from any county except the county of Kauai.
 
 4      SECTION 3.  The special purpose revenue bonds issued under
 
 5 this Act shall be issued pursuant to part IV, chapter 39A, Hawaii
 
 6 Revised Statutes, relating to the authority to issue special
 
 7 purpose revenue bonds to assist processing enterprises.
 
 8      SECTION 4.  The authorization to issue special purpose
 
 9 revenue bonds under this Act shall lapse on June 30, 2004.
 
10      SECTION 5.  This Act shall take effect upon its approval.