Report Title:

Geothermal Royalties; Formula; Hawaii County and OHA

 

Description:

Amends the law relating to geothermal royalties to require 80% of geothermal royalties to be paid to the county of Hawaii and 20% to be paid to the office of Hawaiian affairs.

 

HOUSE OF REPRESENTATIVES

H.B. NO.

2113

TWENTY-FIRST LEGISLATURE, 2002

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to geothermal royalties.

 

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

SECTION 1. Section 182-18, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) The board shall fix the payment of royalties [to the State] for the utilization of geothermal resources at [a rate which will encourage the initial and continued production of such resources.] the following allocation:

(1) Eight per cent to the county of Hawaii; and

(2) Twenty per cent to the office of Hawaiian affairs.

[With respect to all geothermal mining leases previously issued or to be issued, where the board determines that it is necessary to encourage the initial or continued production of geothermal resources, the board shall have the authority to waive royalty payments to the State for any fixed period of time up to but not exceeding eight years.]"

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 Statutory material to be repealed is bracketed and stricken.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, 2002.

INTRODUCED BY:

_____________________________