HI SB987

Expands the $5 transaction fee (established under Act 120, Session Laws of Hawaii 2009) to apply to all recordings in the Bureau of Conveyances and the office of the assistant registrar of the land court, rather than only land deregistered from land court.

Broadens the authorized uses of transaction fee revenue to include software purchases, project management and implementation, workflow improvements, staffing, and services related to management, archiving, preservation, and accessibility of records.

Clarifies that the transaction fee shall be repealed on the effective date of administrative rules establishing a transaction fee adopted by the Department of Land and Natural Resources, or on July 1, 2022, whichever occurs first.

Modifies HRS section 502-8(c) to exempt funds collected under the amended Act 120 section 16 from lapsing to the state general fund.

Takes effect July 1, 2050.