HI SB2005

Authorizes the Department of Land and Natural Resources and public or private entities to establish and operate conservation banks for protecting threatened, endangered, candidate, or proposed species, subject to Board of Land and Natural Resources approval by two-thirds vote.

Conservation banks provide compensatory mitigation credits for incidental take licensees with habitat conservation plans, allowing credits to be transferred or sold to offset adverse impacts to protected species.

Requires conservation bank applications to include resource management plans with goals, performance standards, monitoring requirements, maintenance plans, and adaptive management strategies, plus financial assurances and site protection instruments for non-department operators.

Adds the Associate Director of the United States Geological Survey, Ecosystem Mission Area, to the Endangered Species Recovery Committee, which must review all conservation bank applications and conduct annual compliance reviews.

Takes effect July 1, 2050, and explicitly excludes aquatic life and their habitats from the conservation banking provisions.