HOUSE OF REPRESENTATIVES	H.B. NO.	221
TWENTY-NINTH LEGISLATURE, 2017
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO DISPOSITION OF TAX REVENUES.

 

 

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

 

     SECTION 1.  Section 247-7, Hawaii Revised Statutes, is amended to read as follows:

     "§247-7  Disposition of taxes.  All taxes collected under this chapter shall be paid into the state treasury to the credit of the general fund of the State, to be used and expended for the purposes for which the general fund was created and exists by law; provided that of the taxes collected each fiscal year:

     (1)  Ten per cent or [$6,800,000,] $7,600,000, whichever is less, shall be paid into the land conservation fund established pursuant to section 173A-5; [and]

     (2)  Fifty per cent or $38,000,000, whichever is less, shall be paid into the rental housing revolving fund established by section 201H-202[.]; and

     (3)  Twenty-five per cent or $19,000,000, whichever is less, shall be paid into the natural area reserve fund established by section 195-9; provided that the funds paid into the natural area reserve fund shall be annually disbursed by the department of land and natural resources in the following priority:

         (A)  To natural area partnership and forest stewardship programs after joint consultation with the forest stewardship committee and the natural area reserves system commission;

         (B)  Projects undertaken in accordance with watershed management plans pursuant to section 171-58 or watershed management plans negotiated with private landowners, and management of the natural area reserves system pursuant to section 195-3; and

         (C)  The Hawaii youth conservation corps established under chapter 193."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect on July 1, 2017.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Conveyance Tax; Revenue Allocation

 

Description:

Amends the list of non-general funds that receive distributions from the conveyance tax by: (1) increasing the maximum dollar amount of the distribution to the land conservation fund; and (2) restoring and setting a maximum dollar amount for the distribution to the natural area reserve fund.

 

 

 

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