HI HB1292

Board of Land and Natural Resources shall expend $1,500,000 annually from the land conservation fund for reimbursement of debt service on the Turtle Bay reimbursable general obligation bonds until the bonds are fully amortized.

Moneys expended for debt service on the Turtle Bay reimbursable general obligation bonds shall be deposited into the Turtle Bay conservation easement special fund.

Removes the requirement for nonprofit land conservation organizations to apply annually to the board and eliminates the requirement for matching funds from grant recipients.

Streamlines the payment process by authorizing direct payments from the Land Conservation Fund rather than requiring annual grant applications.

Takes effect upon approval.