BIL 101 Draft 02 2002-2004 - Laserfiche WebLink

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real property whose term extends at least twenty years from the effective date of the dedication. (b) The petition shall be filed with the director of finance by September 1 of any calendar year and shall be approved or disapproved by December 15. If approved, the dedication shall be effective on July 1 of the following tax year. (c) The director of finance shall determine whether or not land qualifies as native forest by using current natural resource or vegetation maps or other acceptable evidence. Other acceptable evidence includes, but is not limited to: (1) A written affidavit by a recognized professional in the field of natural resources, or (2) A finding by a County, State or Federal agency or department with the relevant expertise in the field of natural resources. If the director's findings are favorable, the petition shall be approved and the land shall be declared dedicated. Approval of the petition to dedicate shall constitute a forfeiture on the part of the owner of any right to change the use of the land to a use other than preservation for a minimum period of twenty years. The native forest classification shall be rescinded and all retroactive taxes and penalties due to a breach of the dedication shall be imposed if: (t) The cover of native forest species falls below sixty percent; (2) The property is rezoned to a higher use at the owner's request; (3) The property is subdivided into parcels of five acres or less in size; or (4) The dedicated property or any portion thereof is sold by way of a conveyance which is subject to conveyance tax under the terms of chapter 247, Hawaii Revised Statutes, unless the director of finance submits a notarized affidavit signed by the owner to the bureau of conveyances stating that the land shall continue to be subject to the full requirements of the dedication, including the full penalties and rollback taxes imposed for violation. In order to place prospective buyers on notice of the rollback tax liability, the owner shall, within sixty days of notice of approval, record the dedication in accordance with the procedures of the bureau of conveyances. (d) Other provisions to the contrary notwithstanding, aportion or portions of a parcel that is being assessed and dedicated as pasture may be taken out of production as part of an approved forest restoration plan set forth in this chapter for the duration of the approved restoration period without breaching the terms of the agricultural use dedication. 5