HOUSE OF REPRESENTATIVES

H.B. NO.

1795

TWENTY-SEVENTH LEGISLATURE, 2014

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to the keiki, opio, and kupuna 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 keiki, opio, and kupuna 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, 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 government-owned land. The legislature's intent is for the native and food-bearing trees to be used for investment and legacy 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, 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

keiki, opio, and kupuna trust fund

A-1 Definitions. As used in this chapter:

"Board" means the keiki, opio, and kupuna 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 keiki, opio, and kupuna trust fund.

A-2 Keiki, opio, and kupuna trust fund; established. (a) There is established the keiki, opio, and kupuna 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 moneys shall be deposited 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, and programs that support and benefit the State's keiki and kupuna.

(c) Notwithstanding that the keiki, opio, and kupuna 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 keiki, opio, and kupuna 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 keiki, opio, and kupuna trust fund trust fund shall consist of:

(1) Moneys appropriated to the keiki, opio, and kupuna trust fund by the state, county, or federal government;

(2) Private contributions of cash or property;

(3) Income and capital gains earned by the trust fund; and

(4) Funds collected and deposited pursuant to section B-3.

(f) The aggregate principal sum deposited in the keiki, opio, and kupuna 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 keiki, opio, and kupuna 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 keiki, opio, and kupuna trust fund shall be advised by the keiki, opio, and kupuna trust fund advisory board.

A-3 Keiki, opio, and kupuna trust fund advisory board. (a) There is established a keiki, opio, and kupuna 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 service organization organized in the State for at least five years, 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 keiki, opio, and kupuna 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 keiki, opio, and kupuna trust fund advisory board shall make the final recommendations to the entity selected under section A-2(a) for the expenditure of funds.

(e) Funds within the keiki, opio, and kupuna trust fund shall only be used to administer and support the eco-tourism program under chapter B, except that ten years after the establishment of the keiki, opio, and kupuna trust fund, the interest earned on the trust corpus shall be used by the State for the following purposes:

(1) Educational programs that support and benefit the State's children and youth; and

(2) Caregiving services and programs that support and benefit the State's elderly population.

PART II

SECTION 3. The Hawaii Revised Statutes is amended by adding a new chapter 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 toward 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 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 government-owned land. The purchase price of each tree purchased through the eco-tourism program shall be the reasonable costs associated with planting and caring for a tree on government-owned land plus an additional $20.

(b) Funds collected shall be deposited into the keiki, opio, and kupuna 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 keiki, opio, and kupuna 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 4. In codifying the new sections added by sections 2 and 3 of this Act, the revisor of statutes shall substitute appropriate section and chapter numbers for the letters used in designating the new sections and chapters in this Act.

SECTION 5. This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Keiki, Opio, and Kupuna Trust Fund; Department of Land and Natural Resources; Food-bearing Trees; Native Trees; Keiki Caucus; Kupuna Caucus

 

Description:

Establishes a program for individuals to purchase native or food-bearing trees to be planted on government-owned lands. Establishes the keiki, opio, and kupuna trust fund to collect funds received by the program and to support the program. After ten years, requires the annual interest earned on the trust corpus to be used for programs supporting children, youth, and the elderly.

 

 

 

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