HI SB2904

Authorizes the Department of Land and Natural Resources to establish and operate aquatic mitigation banks to restore, create, enhance, or preserve aquatic habitats and resources.

Allows mitigation banks to serve as compensatory mitigation for persons required to provide mitigation prospectively, subject to approval by the requiring agency.

Enables mitigation banks to address past damages to aquatic habitats or resources through restoration or replacement efforts.

Grants the department authority to adopt rules under Chapter 91, Hawaii Revised Statutes, necessary to implement the aquatic mitigation banking program.

Takes effect upon approval.