HI SB2640

Authorizes the Department of Hawaiian Home Lands to provide cash awards to beneficiaries on the waiting list (approximately 28,000 native Hawaiians) for purchasing residential lots outside department trust lands or paying existing mortgages or rent.

Allows the Department to expend funds from the Hawaiian Home Loan Fund for cash award payments, with award amounts to be determined by the Hawaiian Homes Commission.

Requires the Department to remove any beneficiary who accepts a cash award from the waiting list and prohibits them from later receiving a lease award directly from the Department.

Specifies that accepting a cash award does not create an entitlement to funds and does not constitute a breach of trust or fiduciary duty.

Takes effect July 1, 3000, or upon notification from the Secretary of the Interior that the Act meets no criteria requiring Congressional approval, whichever is later.