HI SB1299

Establishes maximum dollar amounts for distributions from conveyance tax revenue: $6,800,000 (or 10%) to the land conservation fund and $38,000,000 (or 50%) to the rental housing trust fund, whichever is less.

Removes the natural area reserve fund from conveyance tax distributions, eliminating the previous 20-25% allocation to natural area partnership programs, forest stewardship, watershed management, and youth conservation corps.

Appropriates $7,556,128 annually for fiscal years 2015-2016 and 2016-2017 from general revenues to fund natural area reserves and watershed management programs previously supported by conveyance tax revenues.

Appropriates additional general funds for forest reserve management ($2,832,996), native resources and fire protection ($3,405,749), invasive species programs ($4,000,000), Kahoolawe island reserve ($1,000,000), and other environmental programs.

Takes effect July 1, 2015.