HI SB458

Establishes a renewable energy resources development special fund in the state treasury to receive geothermal royalties, legislative appropriations, investment interest, and other funds.

Requires the Hawaii state energy office to expend special fund moneys to support renewable energy projects, subject to legislative appropriation.

Redistributes geothermal royalties from a 30% county/70% state split to: 10% to the county where operations occur, 50% to the Department of Land and Natural Resources, 20% to the Office of Hawaiian Affairs, and 20% to the renewable energy resources development special fund.

Requires the Department of Business, Economic Development, and Tourism to submit annual reports to the legislature on special fund revenue and expenditures at least 20 days before each regular session.

Takes effect on July 1, 2050, with an exception that geothermal resources on Hawaiian Home Lands jurisdiction remain 100% paid to the Department of Hawaiian Home Lands.