HI SB3031

Renames the "Beach Restoration Special Fund" to the "Beach Preservation and Restoration Special Fund" to expand its scope beyond restoration to include preservation activities.

Creates a special subaccount within the fund to receive conveyance tax revenues from real property transfers located wholly or partially within designated sea level rise exposure areas.

Directs all conveyance tax revenues from properties in sea level rise exposure areas (as designated by the Hawaii Climate Change Mitigation and Adaptation Commission) into the new subaccount.

Restricts use of the special subaccount funds exclusively for property acquisition by the Department of Land and Natural Resources.

Takes effect July 1, 2050, providing a 25-year implementation timeline for the new conveyance tax allocation requirements.