HI HB1424

Authorizes the issuance of general obligation bonds and appropriates funds for the Department of Land and Natural Resources to acquire the parcel of land located at Lipoa Point on Maui in consultation with the Hawaiian Islands Land Trust

Lipoa Point-Honolua is identified as an iconic Hawaiian landmark with significant marine resources, historical and archaeological sites, and nationally recognized marine preserve status with diverse coral reef formations

Requires the Department of Land and Natural Resources to ensure to the maximum extent possible that the seller uses sale proceeds to benefit the pension plan of retirees of Maui Land and Pineapple Company, Inc.

Maui Land and Pineapple Company, Inc. is identified as a willing seller, with the Hawaiian Islands Land Trust overseeing appraisal and due diligence processes

Acquisition is subject to approval by the Board of Land and Natural Resources and the Attorney General in accordance with Hawaii Revised Statutes