Establishes a tax increment district for financing redevelopment and community development plans.
The bill amends Hawaii Revised Statutes to allow county councils to establish tax increment districts for financing redevelopment, community development, high technology park, and telecommunication development plans. The Hawaiian Homes Commission can designate these districts, which will generate additional tax revenue to fund specified plans. The county council must then adopt an ordinance establishing the district's boundaries, commencement, and termination dates.
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