HI HB2502

Adds a new section to Chapter 205, Hawaii Revised Statutes, requiring a surcharge on all land reclassifications approved by the state commission or county land use authorities.

Surcharge applies only when reclassification results in an increase in the assessed value of the reclassified land.

Surcharge amount equals the increase in assessed value as determined by the appropriate county agency.

Approval of any land reclassification is contingent upon full payment of the surcharge to the commission, credited to the state general fund.

Takes effect upon approval.