HI HB2117

Establishes a 1% ocean resources surcharge on gross proceeds and gross income from any commercial activity that utilizes Hawaii's ocean resources, including marine life, habitat, flora, fauna, and other ocean-related resources

Creates a Conservation and Resource Enforcement Special Fund within the state treasury to receive surcharge proceeds, administered by the Department of Land and Natural Resources without requiring legislative approval for expenditures

Funds generated from the surcharge will support the Division of Conservation and Resource Enforcement activities

Exempts transactions already taxed at the 0.5% or 0.15% rates under the general excise tax, as well as other exempt transactions under the existing tax code

Takes effect upon approval and applies to taxable years beginning after December 31, 2009