HI HB2672

Requires the State to pay $200,000,000 to the Office of Hawaiian Affairs as compensation for income and proceeds from the public land trust for the period between November 7, 1978, and July 1, 2010.

Establishes a payment schedule requiring at least $30,000,000 annually beginning in fiscal year 2015-2016 until the full $200,000,000 plus interest is paid, with interest accruing at four percent per year on any remaining balance from July 1, 2010.

Allows the State to pay the entire amount or any portion prior to July 1, 2015, without penalty.

Designates the cash transfers as income and proceeds from the public land trust under Hawaii Constitution Article XII, sections 4 and 6.

Takes effect on July 1, 2020, and is deemed a legislative policy expression rather than a settlement, contract, or enforceable agreement.