HI HB1295

Directs the governor to acquire all landholdings of Molokai Properties Limited and GuocoLeisure Ltd. on Molokai through negotiation or eminent domain, estimated worth $200,000,000.

Authorizes financing through legislative appropriations, general obligation bonds, land exchanges, federal funds, private donations, or other negotiated means.

Requires the governor to report to the legislature by 20 days prior to the 2010 regular session on acquisition efforts and financing recommendations.

Permits the governor to exercise eminent domain to acquire the property if negotiation fails within a reasonable time, without requiring legislative disapproval of condemnation.

Appropriates funds from the special land and development fund and authorizes general obligation bonds for fiscal year 2009-2010 to purchase the property or commence condemnation proceedings.