Bill > HB1457

This bill amends Hawaii Revised Statutes Section 46-103 to expand the existing tax increment financing (TIF) provisions, which is a financing method where future gains in taxes are used to finance current improvements that are expected to generate those future gains. The bill maintains the current requirement that county councils can establish tax increment districts through an ordinance that describes the district's boundaries, start and end dates, and establishes a tax increment fund. The key change is the addition of a new subsection that explicitly allows the Department of Hawaiian Home Lands (DHHL) to apply to a county for tax increment financing. This modification provides DHHL with a potential new tool for funding development projects on Hawaiian home lands by enabling them to propose and potentially receive tax increment financing from county governments. The bill is set to take effect on July 1, 3000, which appears to be a placeholder date typically used in draft legislation to indicate a future implementation date.

Budget and Finance, Justice

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1457&year=2026