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The present system is a very good system and contains a very important provision to <br />ensure that no more than $5 million is accumulated in the Open Space Fund. The 2% <br />proposal contains no cap. A cap is necessary to prevent the problems that can occur <br />when money accumulates without any limit and must be spend only for the purpose of <br />buying property. <br />To repeat, acquiring land for open space should be an annual budget consideration along <br />with other needs, not the highest priority that comes "off the top" of our revenues. I truly <br />believe it would be fiscally irresponsible to Hawai`i's taxpayers to have this mandatory <br />2% set aside for land acquisition. The present system has been and will continue to <br />accomplish the work of protecting special lands. It is fiscally flexible, commits to <br />protecting special lands and stresses the pursuit of state, federal and private funds to <br />accomplish its goals. <br />