HI SB2866

Authorizes the Department of Land and Natural Resources to establish and operate aquatic in-lieu fee mitigation programs to restore, create, enhance, or preserve aquatic habitats or resources as compensatory mitigation.

Permits in-lieu fee mitigation either prospectively (when approved by the agency requiring mitigation) or to compensate for past damages to aquatic habitats or resources.

Amends Chapter 187A, Part IV of Hawaii Revised Statutes to include aquatic in-lieu fee mitigation alongside existing aquatic mitigation banking provisions.

Clarifies that the department "may" (rather than "is authorized to") establish and operate mitigation programs using both banking and in-lieu fee mechanisms.

Effective date: July 1, 2050.