HI SR27

Urges the Department of Land and Natural Resources to transfer a portion of revenue from conveying or transferring public land trust lands to the Office of Hawaiian Affairs.

Specifies that the transfer amount be calculated by multiplying the fair market value of the land by 20 percent for each conveyance or transfer.

Defines fair market value as the amount a willing buyer would pay to a willing seller, taking into consideration the use of the land at the time of conveyance.

Requests the Attorney General to provide input and assist both departments in determining the fair market value of ceded lands at the time of conveyance.

Requires certified copies of the resolution be sent to the Office of Hawaiian Affairs Board Chair, Board of Land and Natural Resources Chair, Hawaii Housing Finance and Development Corporation Executive Director, and Attorney General.