Hawaii Gov. Linda Lingle’s list of possible vetoes includes a bill authorizing $40 million in special-purpose revenue bonds for a firm that wants to use the proceeds to finance projects that would convert organic waste into fuel.

Carbon Bio-Engineers Inc. sought the private-activity bonds to establish cogeneration facilities that would use a range of organic streams, including “invasive species, biomass green-wastes, macadamia nut shells, and tires among other wastes” to create biofuels, according to the company’s written testimony in favor of the bill.

The bill passed both chambers unanimously.

Lingle issued a notice of intent to veto Tuesday, citing “possible patent ownership and licensing issues associated with this firm.”

The bill was among 39 the Republican governor is considering for veto.

Lingle has until July 6 to reject bills, but must provide a list of potential vetoes 10 days before that deadline to retain the option to veto them.

“Placing the bills on the potential veto list allows the governor additional time to deliberate, and provides further opportunities for the public to voice their support or concern relating to the bills,” according to the news release her office issued Tuesday.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.