THE SENATE	S.B. NO.	1262
THIRTIETH LEGISLATURE, 2019		S.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO INCREASED FUNDING FOR LAND CONSERVATION.

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

SECTION 1. The legislature finds that in Act 156, Session Laws of Hawaii 2005, the legislature recognized the value of Hawaii's natural resources to its economy, culture, and quality of life, but an alarmingly small amount of money is invested each year to protect the State's natural capital base.

The legislature also finds that there is a clear nexus between the source of the conveyance tax and providing funding for land conservation. The development, sale, and improvement of real estate in Hawaii add additional pressure on natural areas, coastal access, agricultural production, and Hawaii's water resources and watershed recharge areas. Funding made available for land conservation should keep pace with escalating real estate prices and demand.

The purpose of this Act is to provide increased funding for land conservation by removing the annual dollar amount cap of the annual proceeds from the conveyance tax to the land conservation fund.

SECTION 2. Section 247-7, Hawaii Revised Statutes, is amended to read as follows:

"§247-7 Disposition of taxes. All taxes collected under this chapter shall be paid into the state treasury to the credit of the general fund of the State, to be used and expended for the purposes for which the general fund was created and exists by law; provided that of the taxes collected each fiscal year:

(1) Ten per cent [or $6,800,000, whichever is less,] shall be paid into the land conservation fund established pursuant to section 173A-5; and

(2) Fifty per cent or $38,000,000, whichever is less, shall be paid into the rental housing revolving fund established by section 201H-202."

SECTION 3. There is appropriated out of the land conservation fund the sum of $7,482,115 or so much thereof as may be necessary for fiscal year 2019-2020 and the same sum or so much thereof as may be necessary for fiscal year 2020-2021 for resource land acquisition.

The sums appropriated shall be expended by the department of land and natural resources for the purposes of this Act.

SECTION 4. Statutory material to be repealed is bracketed and stricken.

SECTION 5. This Act shall take effect on December 31, 2050.

Report Title:

Land Conservation Fund; Conveyance Tax; Appropriation

Description:

Adjusts the proportion of conveyance tax revenues deposited into the Land Conservation Fund. Appropriates funds from the land conservation fund for resource land acquisition. Takes effect 12/31/2050. (SD1)

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