HOUSE OF REPRESENTATIVES

AMENDMENT TO:			S.B. No. 2021, S.D. 1 H.D. 2
OFFERED BY:		Representative Gene Ward
DATE:	4/11/2021

SECTION 1.  Senate Bill No. 2021, S.D. 1 H.D. 2, is amended by amending Section 2 to read as follows:

     "SECTION 2. Section 10-13.5, Hawaii Revised Statutes, is amended to read as follows:

"§10-13.5 Use of public land trust proceeds. Twenty per cent of all funds derived from the public land trust, described in section 10—3, or $21,500,000 from the trust, whichever is greater, shall be transferred to the office in fiscal year 2022—2023, and each fiscal year thereafter, and expended by the office[, as defined in section 10—2,] for the purposes of this chapter. The moneys transferred pursuant to this subsection shall constitute the annual pro rata share of public land trust proceeds due and owing to the office.

For purposes of this section, "all funds derived from the public land trust" shall mean the same as "total gross receipts."

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CHIEF CLERK, HOUSE OF REPRESENTATIVES