SB 2743 Summary

• Authorizes a portion of conveyance tax revenue to be paid into the Kaho'olawe rehabilitation trust fund for long-term rehabilitation and maintenance of the island reserve.

• Amends section 6K-9.5 to establish that trust fund moneys shall consist of federal appropriations, conveyance tax revenue, legislative appropriations, grants and donations, and investment returns.

• Amends section 247-7 to direct a specified percentage of annual conveyance tax collections to the Kaho'olawe rehabilitation trust fund, subject to an annual cap amount (specific percentages and amounts left blank in bill text).

• Takes effect July 1, 2050, and automatically repeals on June 30, 2026, or upon recognition of a sovereign Native Hawaiian entity by state and federal governments, whichever occurs sooner.

• Upon repeal, restores the conveyance tax provisions to their form prior to this Act's effective date.