HI HB85

Amends Section 247-7 of Hawaii Revised Statutes to allocate conveyance tax revenues to the land conservation fund by removing the existing 10 percent cap or $5,100,000 limit, replacing it with an unspecified percentage or monetary amount (shown with blank lines in the legislative text).

Maintains the existing 50 percent or $38,000,000 cap (whichever is less) for conveyance tax revenues allocated to the rental housing revolving fund.

Establishes the legislature's findings that the land conservation fund lacks adequate funding for watershed protection, coastal preservation, flood prevention, parks, habitat protection, cultural preservation, agricultural production, and open space resources.

Declares that reliable funding for land conservation will support Native Hawaiian cultural practices, strengthen Hawaii's natural capital investments, and promote community resilience and economic opportunity.

Takes effect July 1, 3000 (note: contains apparent typographical error in effective date).