HI HB795

Appropriates funds for the Department of Land and Natural Resources to certify a reforestation carbon project at Haleakala, Maui under an established forest carbon standard, with the specific dollar amount and special fund source to be determined.

Requires the Department of Land and Natural Resources to submit annual reports to the legislature detailing project summaries, financial accounting, budget projections, and contract information.

Mandates that all contracts under the carbon forestry project be issued through a competitive bid process.

Authorizes the Department of Land and Natural Resources, Attorney General, and Auditor to review and inspect contractors and third parties receiving funds, requiring submission of all files, records, documents, and accounting related to fund expenditures.

Establishes that all contracts, agreements, permits, or documents executed by the Department of Land and Natural Resources under this Act remain in full force and effect until terminated according to their terms.