Bill Text: HI SB810 | 2013 | Regular Session | Introduced

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Bill Title: Department of Land and Natural Resources; Hawaii Children's Legacy Trust Fund; Native Trees; Food-bearing Trees

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2013-01-22 - Referred to HMS/WTL/THA, WAM. [SB810 Detail]

Download: Hawaii-2013-SB810-Introduced.html

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THE SENATE	S.B. NO.	810
TWENTY-SEVENTH LEGISLATURE, 2013
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to the hawaii children's legacy TRUST fund.

 

 

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

 

PART I

     SECTION 1.  The purpose of this part is to establish the Hawaii children's legacy trust fund as a means to encourage people to make strong financial investments while supporting conservation, reforestation of Hawaii's native trees, environmental stewardship, sustainable food and energy production, affordable housing, public education, and programs that support and benefit keiki and kupuna.  The fund will serve as a repository for federal and state funds, as well as private contributions from corporations and other businesses, foundations, individuals, and other interested parties.  The fund will be used to purchase individual native or food-bearing trees that will be grown on state-owned land.  The legislature's intent is for the native and food-bearing trees to be used for investment purposes by the State of Hawaii, individual residents of Hawaii, and other individuals and organizations who are interested in financial health, conservation, reforestation, environmental stewardship, sustainable food and energy production, affordable housing, public education, and the well-being of the State's keiki and kupuna.

     SECTION 2.  The Hawaii Revised Statutes is amended by adding a new chapter to be appropriately designated and to read as follows:

"CHAPTER A

HAWAII CHILDREN'S LEGACY TRUST FUND

     §A-1  Definitions.  As used in this chapter:

     "Board" means the Hawaii children's legacy trust fund advisory board.

     "Chairperson" means the chairperson of the board of land and natural resources.

     "Department" means the department of land and natural resources.

     "Trust fund" or "fund" means the Hawaii children's legacy trust fund.

     §A-2  Hawaii children's legacy trust fund; established.  (a)  There is established the Hawaii children's legacy trust fund as a separate fund of a nonprofit entity having a board of directors and qualifying under section 501(c)(3) of the Internal Revenue Code into which shall be deposited moneys received as provided under subsection (e).  The chairperson, with the concurrence of the governor, shall select, in accordance with chapter 103D, the entity based upon the proven record of accomplishment of the entity in administering a similar trust fund.

     (b)  The purpose of the trust fund is to encourage people to make strong financial investments while supporting conservation efforts, the reforestation of Hawaii's native trees, environmental stewardship, sustainable food and energy production, affordable housing, public education, and programs that support and benefit the State's keiki and kupuna.

     (c)  Notwithstanding that the Hawaii children's legacy trust fund is established within a private entity, the department of budget and finance shall have oversight authority over the fund and may make periodic financial audits of the fund; provided that the director of finance may contract with a certified public accountancy firm for this purpose.  The chairperson with the concurrence of the governor in their sole discretion may rescind the selection of the entity.  If the selection of the entity is rescinded, moneys in the trust fund shall revert back to the State and shall be deemed to be trust moneys.

     (d)  The Hawaii children's legacy trust fund may receive appropriations, contributions, grants, endowments, or gifts in cash or otherwise from any source, including the State, corporations or other businesses, foundations, government, individuals, and other interested parties.

     (e)  The assets of the Hawaii children's legacy trust fund shall consist of:

     (1)  Moneys appropriated to the Hawaii children's legacy trust fund by the state, county, or federal government;

     (2)  Income tax remittances allocated under section 235-  ;

     (3)  Private contributions of cash or property; and

     (4)  Income and capital gains earned by the trust fund.

     (f)  The aggregate principal sum deposited in the Hawaii children's legacy trust fund shall be invested by the entity selected under subsection (a) in a manner intended to maximize the rate of return on investment of the trust fund consistent with the objective of preserving the trust fund's principal.

     (g)  If the entity selected under subsection (a) is dissolved, the chairperson, with the concurrence of the governor, shall select a successor entity.  If the Hawaii children's legacy trust fund is terminated, the moneys remaining in the trust fund shall revert back to the State and shall be deemed to be trust moneys.

     (h)  The administration of the Hawaii children's legacy trust fund shall be advised by the Hawaii children's legacy advisory board created under section A-3.

     §A-3  Hawaii children's legacy trust fund advisory board.  (a)  There is established a Hawaii children's legacy trust fund advisory board under the department for administrative purposes.

     (b)  The board shall consist of seven members, who shall be appointed in the manner and serve for the term set forth in section 26-34, as follows:

     (1)  One member of the governor's staff, appointed by the governor;

     (2)  One member to be appointed by the governor from a list of two names submitted by the president of the senate;

     (3)  One member to be appointed by the governor from a list of two names submitted by the speaker of the house of representatives;

     (4)  The chairperson or the chairperson's designee;

     (5)  One member representing a well-established service organization organized in the State, appointed by the governor;

     (6)  One member who is a reputable arborist or other professional educated and experienced in the growth and care of trees, appointed by the chairperson; and

     (7)  One member who is experienced in forest finance or managing a trust fund, appointed by the chairperson.

     (c)  The Hawaii children's legacy trust fund advisory board, in collaboration with the department, shall develop policy, planning, and strategy for the fund; publicize the fund; and solicit public and private moneys for the fund.

     (d)  The Hawaii children's legacy trust fund advisory board shall make the final recommendations to the entity selected under subsection A-2(a) for the expenditure of funds for the following activities:

     (1)  Grantmaking to raise community awareness of the trust fund;

     (2)  Allocation of funds for sustainable forestry operations;

     (3)  Allocation of funds for sustainable energy production;

     (4)  Allocation of funds for sustainable food production;

     (5)  Allocation of funds for affordable housing;

     (6)  Allocation of funds for the benefit of public education;

     (7)  Allocation of funds for programs that support and benefit the State's keiki;

     (8)  Allocation of funds for programs that support and benefit the State's kupuna; and

     (9)  Administration of the trust fund."

     SECTION 3.  Chapter 235, Hawaii Revised Statutes, is amended by adding a new section to part VI to be appropriately designated and to read as follows:

     "§235-    Additional income designation or check-off authorized.  Notwithstanding any law to the contrary, any individual whose state income tax refund for any taxable year is $2 or more may designate $2 of the refund to be paid over to the Hawaii children's legacy trust fund established by section A-2, when submitting a state income tax return to the department.  In the case of a joint return of a husband and wife having a state income tax refund of $4 or more, each spouse may designate that $2 be deposited into the special fund.  The director of taxation shall revise the individual state income tax form to allow the designation of contributions to the fund on the face of the tax return and immediately above the signature lines.  If no designation was made on the original tax return when filed, a designation may be made by the individual on an amended return filed within twenty months and ten days after the due date for the original return for such taxable year.  A designation once made, whether by an original or amended return, may not be revoked."

PART II

     SECTION 4.  The Hawaii Revised Statutes is amended by adding a new chapter to title 12, subtitle 6, to be appropriately designated and to read as follows:

"Chapter B

Eco-Tourism PROGRAM

     §B-1  Definitions.  As used in this chapter:

     "Board" means the board of land and natural resources.

     "Department" means the department of land and natural resources.

     "Native or food-bearing tree" means any species of tree that is native to Hawaii or any species of tree that produces fruit or nuts for human consumption.

     §B-2  Eco-tourism program.  (a)  The department shall establish an eco-tourism program that allows visitors and residents of Hawaii to contribute towards planting native or food-bearing trees in designated areas throughout the State.

     (b)  The department shall adopt rules pursuant to chapter 91 necessary to carry out the purposes of this chapter.

     (c)  The department may partner with the Hawaii tourism authority and other private businesses to allow and encourage visitors and residents of Hawaii to contribute toward planting native or food-bearing trees in designated areas throughout the State.

     §B-3  Planting and selling of native and food-bearing trees; cost.  (a)  When a person participates in the eco-tourism program by purchasing a native or food-bearing tree to be planted, the tree shall be planted on state-owned land.

     (b)  The cost of participating in the eco-tourism program by purchasing a native or food-bearing tree to be planted shall be $40.  Funds collected shall be deposited into the Hawaii children's legacy trust fund established in section A-2.

     (c)  Any tree planted through the eco-tourism program shall be cared for in perpetuity as a legacy tree by funds from the Hawaii children's legacy trust fund.

     (d)  A person or business who purchases a tree through the eco-tourism program can dedicate that tree to any person.  A certificate may be issued in this person's name.

     (e)  The department shall be responsible for designating lands for the trees to be planted and selecting the species of native or food-bearing tree to be planted."

PART III

     SECTION 5.  In codifying the new sections added by sections 2 and 4 of this Act, the revisor of statutes shall substitute appropriate section numbers for the letters used in designating the new sections in this Act.

     SECTION 6.  New statutory material is underscored.

     SECTION 7.  This Act shall take effect upon its approval; provided that section 3 of this Act shall apply to taxable years beginning after December 31, 2012.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Department of Land and Natural Resources; Hawaii Children's Legacy Trust Fund; Native Trees; Food-bearing Trees

 

Description:

Establishes the Hawaii children's legacy trust fund as a separate fund of a nonprofit entity to encourage individuals to make strong financial investments while supporting conservation, reforestation, environmental stewardship, sustainability, affordable housing, public education, and the well-being of the State's keiki and kupuna.  Establishes an income tax refund check-off box for the Hawaii children's legacy trust fund.  Establishes an eco-tourism program in the department of land and natural resources.  Creates a process for local businesses and individuals to purchase native or food-bearing trees to be planted on state-owned land.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.