HOUSE OF REPRESENTATIVES
H.B. NO.
1457
THIRTY-THIRD LEGISLATURE, 2025
STATE OF HAWAII
A BILL FOR AN ACT
relating to tax increment financing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 46-103, Hawaii Revised Statutes, is amended to read as follows:
"§46-103 Establishment of tax increment district. [Underlined: (a) ]Any county council may provide for tax increment financing by approving a tax increment financing plan and adopting an ordinance establishing the tax increment district. The ordinance shall:
(1) Describe the boundaries of the tax increment district;
(2) Provide for the date of commencement of the tax increment district and date of termination of the district;
(3) Provide for the establishment of a tax increment fund for the district; and
(4) Provide for such other matters deemed to be pertinent and desirable for tax increment financing and not inconsistent with any relevant redevelopment plan, community development plan, high technology park plan, or telecommunication development plan.
[Underlined: (b) The Hawaiian homes commission may designate a tax increment district under subsection (a). If the commission designates a district as a tax increment district, then the county council shall adopt a tax increment financing plan and ordinance establishing the tax increment district according to the boundaries determined by the Hawaiian homes commission and pursuant to this section.]"[Underlined: ]
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
INTRODUCED BY:
_____________________________
Report Title:
DHHL; Counties; Tax Increment Financing
Description:
Authorizes the Hawaiian Homes Commission to designate tax increment districts that may utilize tax increment financing.
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