HI HB2923

Requires the Department of Hawaiian Home Lands to consult with Native Hawaiian beneficiaries prior to awarding leases for commercial and multipurpose projects on Hawaiian home lands.

Authorizes lease extensions of up to 20 years (granted only once) for commercial and multipurpose projects when improvements are made or financing is obtained, subject to departmental approval and review of plans and specifications.

Directs 20 percent of all revenues from commercial and multipurpose project leases to be deposited into the Native Hawaiian Rehabilitation Fund for use by beneficiaries, beneficiary-controlled organizations, and homestead community associations.

Requires the Department of Hawaiian Home Lands to submit annual reports to the legislature and U.S. Department of the Interior detailing all commercial and multipurpose project leases, including number of leases, acreage, terms, beneficiary status, and whether leases involved retained available lands.

Effective July 1, 2050.