Bill Text: HI HB1256 | 2011 | Regular Session | Introduced
Bill Title: Geothermal Resources; Royalties
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2011-02-07 - (H) The committee(s) recommends that the measure be deferred. [HB1256 Detail]
Download: Hawaii-2011-HB1256-Introduced.html
|
HOUSE OF REPRESENTATIVES |
H.B. NO. |
1256 |
|
TWENTY-SIXTH LEGISLATURE, 2011 |
|
|
|
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 to read as follows:
"[[]§182-18[]]
Geothermal royalties. (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. 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.
(b) The board shall adopt, amend, or repeal rules pursuant to chapter 91 to establish the basis upon which the amount and duration of royalty payments to the State will be fixed or waived. The board's assessment of each application shall include, but not be limited to, the examination of such factors as the progress of geothermal development taking place in the State at the time of the application, the technical and financial capabilities of the applicant to undertake the project, and the need for providing a financial incentive in order for the applicant to proceed. The granting of any favorable terms to an applicant for the payment of royalties under this section may be revoked by the board if the applicant fails to satisfy any of the terms and conditions established by the board, or if the applicant wholly ceases operations and for reasons other than events which are outside the control of the parties and which could not be avoided by the exercise of due care by the parties.
(c) The board shall submit a written report of all geothermal royalty dispositions to the legislature in accordance with section 171-29.
(d) The shares of geothermal royalties paid to the State pursuant to this section and to the office of Hawaiian affairs pursuant to section 10-13.5 shall be expended by those entities exclusively for projects and expenses located in the county in which the geothermal resource was produced."
SECTION 2. The auditor shall conduct an audit of the uses of geothermal royalties paid to the State and to the office of Hawaiian affairs to determine in what manner and for what purposes those moneys have been expended. The auditor shall report its findings to the legislature no later than twenty days prior to the convening of the regular session of 2012.
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2011.
|
INTRODUCED BY: |
_____________________________ |
|
|
|
Report Title:
Geothermal Resources; Royalties
Description:
Requires geothermal royalties paid to the State and OHA to be expended in the county in which the geothermal resource was produced. Directs the auditor to audit the expenditure of geothermal royalties paid to the State and OHA.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
