Report Title:

Legacy Lands; Highest Value

Description:

Permitting the purchase of land through the Land Conservation Fund at the tax assessed value or the appraised value, whichever is higher.

HOUSE OF REPRESENTATIVES	H.B. NO.	2925
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

relating to land having value as a resource to the state.

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

     SECTION 1.  Section 173A-4.5, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  No land shall be purchased for a sum greater than the highest value fixed by any appraisal accepted or performed under subsection (a)[;] or the tax assessed value, whichever is higher; provided that this limitation shall not apply to any acquisition that is made by condemnation."

     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  Statutory material to be repealed is bracketed and stricken.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:

_____________________________