Hawaii HB1457 amends tax increment financing to allow the Hawaiian Homes Commission to designate tax increment districts.

Hawaii HB1457 amends the tax increment financing process by allowing the Hawaiian Homes Commission to designate tax increment districts. The county council must adopt a tax increment financing plan and ordinance establishing the district according to the boundaries set by the commission. The ordinance must describe the district's boundaries, commencement and termination dates, and establish a tax increment fund. Other pertinent matters must align with relevant redevelopment plans.

Hawaii HB1457 amends tax increment financing to allow the Hawaiian Homes Commission to designate tax increment districts.

Hawaii HB1457 amends the tax increment financing process by allowing the Hawaiian Homes Commission to designate tax increment districts. The county council must adopt a tax increment financing plan and ordinance establishing the district according to the boundaries set by the commission. The ordinance must describe the district's boundaries, commencement and termination dates, and establish a tax increment fund. Other pertinent matters must align with relevant redevelopment plans.