SB3269 proposes amendments to the Hawaii Constitution to allow counties to issue tax increment bonds and exclude them from funded debt calculations.

SB3269 seeks to amend the Constitution of the State of Hawaii by allowing the legislature to authorize counties to issue tax increment bonds, which are payable from and secured solely by the amount of real property taxes levied and collected by a political subdivision. These bonds would be used for specified public works, public improvements, or other actions within a tax increment district. The bill also seeks to exclude tax increment bonds from the determinations of the funded debt of the political subdivisions.

SB3269 proposes amendments to the Hawaii Constitution to allow counties to issue tax increment bonds and exclude them from funded debt calculations.

SB3269 seeks to amend the Constitution of the State of Hawaii by allowing the legislature to authorize counties to issue tax increment bonds, which are payable from and secured solely by the amount of real property taxes levied and collected by a political subdivision. These bonds would be used for specified public works, public improvements, or other actions within a tax increment district. The bill also seeks to exclude tax increment bonds from the determinations of the funded debt of the political subdivisions.