Report Title:

Agribusiness Development Corporation; Public Lands

Description:

Provides that when public lands required for the purposes of the Agribusiness Development Corporation (ADC) are leased to ADC, ADC is not subject to the Procurement Code, the chapter on Public Lands, Management and Disposition, and similar laws that would otherwise apply to a state agency with respect to the lands.

HOUSE OF REPRESENTATIVES

H.B. NO.

543

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO THE AGRIBUSINESS DEVELOPMENT CORPORATION.

 

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

SECTION 1. Section 163D-6, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

"(b) If the corporation acquires the assets of a private or other corporation, or if lands are transferred to the corporation pursuant to section 163D-16, then, notwithstanding any law to the contrary:

(1) Neither the corporation nor any subsidiary corporation vested with the assets shall be subject to chapter 91 with respect to the assets;

(2) Employees retained to operate the assets shall not be subject to chapter 76;

(3) Assets constituting real property interest shall not be subject to chapter 171;

(4) No investment, loan, or use of funds by the corporation or a subsidiary corporation vested with the assets shall be subject to chapter [42D,] 42F, 103, [or] 103D[;], or 103F; and

(5) Neither the corporation nor a subsidiary corporation vested with the assets shall constitute a public utility or be subject to the jurisdiction of the public utilities commission under chapter 269."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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