Bill Text: HI HB211 | 2010 | Regular Session | Introduced

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Bill Title: Public Land Leases; Renewable Energy

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [HB211 Detail]

Download: Hawaii-2010-HB211-Introduced.html

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Report Title:

Public Land Leases; Renewable Energy

 

Description:

Allows DLNR to enter into leases of public lands for renewable energy projects and receive as all or partial consideration an equity participation in the renewable energy entity.

 

HOUSE OF REPRESENTATIVES	H.B. NO.	211
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to public lands.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Chapter 171, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§171-     Renewable energy production; lease by negotiation; equity participation.  (a)  Anything to the contrary contained in this chapter notwithstanding, the board may lease public lands to a lessee for use in projects involving the generation of renewable energy:

     (1)  Through negotiations; and

     (2)  For a lease rent that may include all or a portion of the lease rent being in the form of an equity participation in the lessee.

     (b)  Any lease entered into pursuant to this section shall be subject to sections 171-36 and 171-53, provided that for purposes of section 171-36(b) and (d), any lease entered into pursuant to this section shall be deemed an industrial lease.

     (c)  For purposes of this section:

     "Equity participation" means the acceptance of common or preferred stock, royalty rights, limited partnership interests, limited liability company interests, and any other securities or rights that evidence ownership in a private business entity based on all or a portion of the capitalized fair market lease rental that the State would receive for the lease term.

     "Renewable energy" shall have the same meaning as section 269-91."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

 

INTRODUCED BY:	_____________________________