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HI SB2792
Bill
AI Summary
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Directs 15 percent of geothermal royalties collected from mining leases executed after July 1, 2012, to be deposited into the Native Hawaiian Rehabilitation Fund.
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Allocates 30 percent of revenues from state land disposition to non-geothermal renewable energy producers (after July 1, 2012) to the Native Hawaiian Rehabilitation Fund.
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Requires 25 percent of all geothermal mining royalties received by the State to be paid to the county where the geothermal operation is located.
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Establishes a minimum royalty rate of no less than 12 percent of the gross amount or value of geothermal resources produced under a geothermal mining lease.
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Provides supplemental income to Hawaiian Home Lands to continue existing programs for Native Hawaiians.
Legislative Description
Department of Hawaiian Home Lands; Native Hawaiian Rehabilitation Fund
Last Action
(H) Passed Second Reading as amended in HD 1 and referred to the committee(s) on WLO/EEP with none voting aye with reservations; none voting no (0) and Herkes, Kawakami, Oshiro, Tokioka excused (4).
3/16/2012