Bill Text: HI HB1515 | 2015 | Regular Session | Introduced
Bill Title: Waste-to-energy Power; Sustainable Energy; Waste Management; Clean Energy; Pelatron Q, LLC; Special Purpose Revenue Bonds; Appropriation ($)
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2015-02-20 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Ito excused (1). [HB1515 Detail]
Download: Hawaii-2015-HB1515-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1515 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
authorizing the issuance of special purpose revenue bonds to assist pelatron Q, LLC.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that support for the development of renewable and efficient energy systems in the State, which is geographically isolated from the standard fuel sources of oil and natural gas, continues to be in the public interest. Pelatron Q, LLC, offers sustainable solutions for the generation of renewable energy and waste management through the development of waste-to-energy power plants. Pelatron Q, LLC's power plants will use a patented plasma gasification and vitrification process, which will be used to convert waste to jet fuel in London, to convert waste to energy in Hawaii. Each plant will produce approximately six to eight megawatts of clean renewable energy by taking locally produced municipal solid waste and other material that was previously disposed of in the State's landfills and converting the waste into a synthetic gas used to generate electricity that can be exported to the grid.
These unique and patented systems can process municipal solid waste, construction and demolition waste, green waste, medical waste, industrial waste, and any carbonaceous matter. The development of these waste-to-energy power plants will contribute to the State's energy security, reduce the State's carbon footprint, reduce the environmental impact of landfilling waste, and add living-wage jobs to the State's economy.
The legislature further finds that the benefits of the development of waste-to-energy power plants include the following:
(1) Reduction of greenhouse gas emissions;
(2) Reduction of landfill waste streams;
(3) Reduction of transportation and disposal costs;
(4) Creation of local technical and semi-technical jobs;
(5) Production of renewable energy for local communities, which reduces Hawaii's net import of energy and increases Hawaii's domestic wealth, self-sufficiency, and energy security; and
(6) Assistance to meet Hawaii's renewable energy goals.
The legislature additionally finds that Pelatron Q, LLC's work in creating alternative energy for the State is an industrial enterprise, its development of waste-to-energy power plants is a project as defined in part V, chapter 39A, Hawaii Revised Statutes, and the project may be assisted through the issuance of special purpose revenue bonds.
The purpose of this Act is to authorize the issuance of special purpose revenue bonds to assist Pelatron Q, LLC, with the development of waste-to-energy power plants that use its patented plasma gasification and vitrification process for waste management and energy production in Hawaii.
The legislature finds and declares that the issuance of special purpose revenue bonds under this Act is in the public interest and for the public health, safety, and general welfare.
SECTION 2. Pursuant to part V, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue special purpose revenue bonds in a total amount not to exceed $44,000,000, in one or more series, for the purpose of assisting Pelatron Q, LLC, in the establishment of waste-to-energy power plants that use the plasma gasification and vitrification process in Hawaii. The electrical output of these facilities shall be made available for use by members of the general public by sale to electric utilities serving the public or by sale to federal, state, or county agencies. The legislature hereby finds and determines that the establishment of waste-to-energy power plants that use Pelatron Q, LLC's plasma gasification and vitrification process constitute a project as defined in part V, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to an industrial enterprise.
SECTION 3. The special purpose revenue bonds and the refunding special purpose revenue bonds issued under this Act shall be issued pursuant to part V, chapter 39A, Hawaii Revised Statutes, relating to the power to issue special purpose revenue bonds to assist industrial enterprises.
SECTION 4. The department of budget and finance is authorized, from time to time, including times subsequent to 2020, to issue special purpose revenue bonds in whatever principal amounts the department shall determine to be necessary to refund the special purpose revenue bonds authorized in section 2 and to refund special purpose revenue bonds authorized in this section, regardless of whether the outstanding special purpose revenue bonds or refunding special purpose revenue bonds have matured or are the subject of redemption or whether the refunding special purpose revenue bonds shall be bonds for the multi-project programs described in section 2. In making this determination, the department shall comply with federal law relating to the exemption from federal income taxation of the interest on bonds of the nature authorized by this section.
SECTION 5. The authorization to issue special purpose revenue bonds under this Act shall lapse on June 30, 2020.
SECTION 6. This Act shall take effect on July 1, 2015.
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INTRODUCED BY: |
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Report Title:
Waste-to-energy Power; Sustainable Energy; Waste Management; Clean Energy; Pelatron Q, LLC; Special Purpose Revenue Bonds; Appropriation
Description:
Authorizes the issuance of special purpose revenue bonds to assist Pelatron Q, LLC, with the development of waste-to-energy power plants in Hawaii.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
