HI SB2838

Directs the Board of Land and Natural Resources to sell public lands to raise $500 million to $750 million in net proceeds by June 30, 2011, to address the state budget deficit.

Sales must exclude lands essential to public health, safety, and welfare services, and cannot violate federal law or jeopardize federal funding.

Twenty percent of net proceeds from public land trust sales go to the Office of Hawaiian Affairs; remainder goes to the general fund for public schools, farm and home ownership, public improvements, and public lands.

Sales conducted through public auction or negotiation, with appraisals determining upset prices and public notice required statewide and in relevant counties.

Exempts land sales from legislative approval requirements and allows not-for-profit organizations with 75 or fewer subtenants meeting specific investment criteria to purchase leased lands through direct negotiation.