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Committee OKs carve-out and advances Bona Pacific special‑purpose revenue bond bill
Summary
Senate Bill 585, enabling special‑purpose revenue bonds for Bona Pacific’s proposed integrated biogas and green‑hydrogen facility, passed committee with an Attorney General amendment exempting the measure from a prior Act 182 limitation.
Senators voted to pass Senate Bill 585, which authorizes issuance of special‑purpose revenue bonds to assist Bona Pacific in developing an integrated biogas and green hydrogen facility, adopting an Attorney General amendment that carves the authorization out of a prior statutory limitation.
George Pritchard, president and CEO of Bona Pacific, described the project as producing renewable natural gas and green hydrogen to support local energy resilience and economic activity. Pritchard told the committee the project would produce “1,500,000 MMBtu of renewable natural gas annually, generating 4 1400 kilograms a day of green hydrogen to support clean transportation,” and estimated job creation and local economic benefits in testimony.
The Attorney General’s deputy, Ian Robertson, flagged a potential conflict with Act 262 (2023) amending Act 182 (2022). Robertson recommended committee language that would exempt the bill from that prior statutory limitation; the committee adopted the recommended carve‑out. Senators also confirmed with the sponsor that Bona Pacific is converting from an LLC to a corporation to conform with the bill title.
Action and vote: The committee adopted the AG amendment and recommended passing SB 585 as amended. The motion carried with multiple aye votes recorded and two members excused.
What’s next: With the AG language incorporated, SB 585 advances out of committee. The committee’s amendment is intended to avoid a statutory conflict with the 2022/2023 acts while enabling project financing via special‑purpose revenue bonds.
