HI HB498

Authorizes the Department of Land and Natural Resources to establish and operate aquatic in-lieu fee mitigation programs in addition to existing aquatic mitigation banks.

Allows in-lieu fee mitigation to be used prospectively for future impacts to aquatic habitats, provided the requiring agency approves, or retroactively for past damages to aquatic habitats or resources.

Establishes in-lieu fee mitigation as a mechanism to restore, create, enhance, or preserve aquatic habitats to compensate for ecological functions and services lost through adverse impacts to similar aquatic resources.

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

Takes effect upon approval.