HI SB2912

Amends Section 200-10 of Hawaii Revised Statutes to allow the Department of Land and Natural Resources to issue new ocean recreation commercial permits through public auction, excluding renewals of permits initially issued before the effective date.

Permits stock or interest transfers in corporations holding valid commercial permits without terminating permit rights, provided the business has operated for at least one year and the seller pays a business transfer fee based on vessel passenger-carrying capacity.

Exempts transfers between spouses or first-generation lineal descendants from the business transfer fee requirement.

Requires permit holders to meet minimum revenue standards as a condition of retaining or renewing commercial permits.

Takes effect on July 1, 2050.