SB 3229 Relating To Geothermal Royalties

About SB-3229

Caps the amount of royalties from geothermal resources that are to be paid to the State and to the county in which the geothermal resources are located. Deposits royalties into the University Innovation and Commercialization Initiative Special Fund, to be expended by the Hawaii Groundwater and Geothermal Resources Center, to further the discovery and development of geothermal resources. Requires the entities that received geothermal royalties to submit an annual report to the Legislature. (CD1)