HI
Hawaii House Bill HB2085

Hawaii 2022 Regular Session

Hawaii House Bill HB2085

Introduced
1/26/22  
Refer
1/28/22  
Report Pass
2/18/22  
Refer
2/18/22  
Report Pass
3/4/22  
Engrossed
3/4/22  
Refer
3/11/22  
Report Pass
3/24/22  

Caption

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

Impact

This amendment could significantly change how counties manage financing for infrastructure improvements and public projects. Under the current laws, certain debt limits restrict how much counties can borrow and how they finance projects. By excluding tax increment bonds from the funded debt calculations, the bill aims to provide counties with more leeway in financing necessary public works without impacting their existing debt limits. This could lead to an increase in public infrastructure projects as counties find it easier to engage in such funding mechanisms.

Summary

House Bill 2085 proposes amendments to the Constitution of the State of Hawaii, specifically Article VII, Sections 12 and 13, to expressly allow the legislature to authorize counties to issue tax increment bonds. The primary objective of the bill is to facilitate funding for public works and improvements at the county level by permitting these bonds, which would be paid for through increased property taxes from the specific districts benefiting from the improvements. By allowing counties to issue these bonds, it aims to enhance fiscal flexibility and resource allocation in local governments.

Contention

Critics of the bill may express concerns regarding the implications of allowing counties to incur tax increment bonds without them contributing to the funded debt. Potential objections could arise around fiscal responsibility, accountability for future increases in property tax, and whether this creates an unsustainable financial environment. Supporters argue that it empowers local governments to invest in their communities, ultimately leading to improved public services and infrastructure.

Latest HB2085 Activity

Companion Bills

HI SB3053

Same As Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

Similar Bills

HI SB1295

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI SB3008

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI SB1295

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI HB997

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI SB3053

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI HB997

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI SB3051

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.

HI HB2362

Proposing Amendments To Article Vii, Sections 12 And 13, Of The Hawaii Constitution To Expressly Provide That The Legislature May Authorize The Counties To Issue Tax Increment Bonds And To Exclude Tax Increment Bonds From Determinations Of The Funded Debt Of The Counties.