HI HB2420

Establishes the Act 279 special fund to be administered by the Department of Hawaiian Home Lands, accepting legislative appropriations, grants, donations, interest, and other revenue sources.

Redirects unexpended and unencumbered funds from Act 279 (Session Laws of Hawaii 2022) that would have lapsed on June 30, 2024, into the Act 279 special fund instead of the general fund.

Permits the special fund to support Department of Hawaiian Home Lands fiduciary duties including developing lots, purchasing land, providing funding or subsidies to waitlist applicants and qualified relatives, and generating additional revenue from departmental lands.

Appropriates funds from the Act 279 special fund for fiscal year 2024-2025, with any unencumbered amounts lapsing to the general fund on June 30, 2026.

Abolishes the Act 279 special fund on June 30, 2026, with remaining balances reverting to the general fund; becomes effective July 1, 2050.