HI SB433

Amends the environmental response, energy, and food security tax (barrel tax) on petroleum products to allocate a portion of proceeds to the Hawaii agricultural development revolving fund.

Directs funds deposited into the Hawaii agricultural development revolving fund to be expended by the board to acquire agricultural land and assist with food sustainability in Hawaii.

Addresses Hawaii's food security by supporting the governor's goal of doubling local food production by 2020, as only about 10 percent of food consumed in the state is currently grown locally.

Aligns the barrel tax with its original intent by reallocating a portion previously deposited in the general fund to support agricultural development and food security initiatives.

Takes effect July 1, 2050.