HI SB3134

Amends Section 173A-13, Hawaii Revised Statutes, to make the board directly responsible for reimbursing debt service on Turtle Bay reimbursable general obligation bonds from the land conservation fund.

Establishes a fixed annual payment of $1,500,000 per fiscal year from the land conservation fund until the bonds are fully amortized.

Removes the requirement for a nonprofit land conservation organization to file annual applications requesting reimbursement and eliminates the matching funds requirement.

Directs that moneys expended for debt service payment shall be deposited into the Turtle Bay conservation easement special fund.

Takes effect upon approval.