HI SB1088

Appropriates funds from the natural area reserve fund to the department of land and natural resources for fiscal years 2017-2018 and 2018-2019 to certify a reforestation carbon project at Haleakala, Maui under an established forest carbon standard (initial investment of approximately $120,000).

Requires the department of land and natural resources to submit annual audit reports to the governor and legislature no later than twenty days before each regular session, including project summaries, financial reports, budget projections, and lists of all contracts and agreements.

Mandates that all contracts, agreements, permits, and documents executed by the department of land and natural resources must be competitively bid and remain in effect until terminated per contract terms.

Authorizes the department of land and natural resources, attorney general, and auditor to review and inspect contractors and third parties receiving funds, with authority to request submission of all files, records, documents, and accounting related to fund expenditures.

Takes effect on July 1, 2050.