HI HB399

Requires the State to pay the Office of Hawaiian Affairs (OHA) $200,000,000 representing income and proceeds from public trust lands for the period from November 7, 1978, to July 1, 2010.

Payment schedule mandates at least $30,000,000 annually beginning in fiscal year 2015-2016, with interest accruing at 4% per year on any remaining balance owed from July 1, 2010.

Allows the State to make full or partial payments prior to July 1, 2015, or to substitute land conveyances mutually agreed upon by state agencies and OHA for cash payments, provided the land's fair market value equals the cash amount.

Deems all cash or land transfers made under this Act as income and proceeds from public trust lands under Hawaii Constitution Article XII, sections 4 and 6.

Identifies this Act as legislative policy addressing the State's constitutional obligation to native Hawaiians regarding ceded lands trust benefits.