HI HB1256

Adds a new requirement that geothermal royalties paid to the State and the Office of Hawaiian Affairs must be expended exclusively for projects and expenses located in the county where the geothermal resource was produced.

Directs the state auditor to audit how geothermal royalties have been used by the State and the Office of Hawaiian Affairs and report findings to the legislature no later than twenty days before the 2012 regular session convenes.

Takes effect on July 1, 2011.