SB374

Hawaii SB374 regulates tax increment bonds, requiring economic impact analyses, independent audits, and public reporting.

Hawaii SB374 amends state statutes to regulate the issuance of tax increment bonds by counties. The bill mandates that counties commission a comprehensive economic impact analysis before issuing such bonds, detailing anticipated effects on job creation and housing affordability. Counties must conduct independent audits biennially to assess the fiscal health and compliance of tax increment bond projects, with reports submitted to the legislature and made publicly available.