HI SB284

Authorizes the Department of Budget and Finance to issue $35,000,000 in reimbursable general obligation bonds to be deposited into the Turtle Bay conservation easement special fund for acquiring a conservation easement and other real property interests at Turtle Bay, Oahu.

Allocates $1,500,000 annually from transient accommodations tax revenues to the Turtle Bay conservation easement special fund for debt service reimbursement on the reimbursable general obligation bonds until fully amortized.

Requires a nonprofit land conservation organization to file an annual application with the Board of Land and Natural Resources requesting $1,500,000 from the land conservation fund for debt service reimbursement on the Turtle Bay bonds.

Appropriates $3,000,000 from the Turtle Bay conservation easement special fund to reimburse the state general fund for debt service payments on the reimbursable general obligation bonds.

Appropriates $500,000 from transient accommodations tax revenues to the Department of Land and Natural Resources for appraisal, due diligence, and closing costs related to the Turtle Bay conservation easement acquisition.