HI
Hawaii Senate Bill SB1100

Hawaii 2023 Regular Session

Hawaii Senate Bill SB1100

Introduced
1/20/23  

Caption

Proposing Amendments To Article Vii, Section 12, Of The Hawaii Constitution To Authorize The Counties To Issue Tax Increment Bonds.

Impact

The passage of SB1100 would significantly impact state laws concerning local government financing and infrastructure development. It would empower counties to take initiative in funding public projects, thus potentially alleviating some financial burdens from the state. This could lead to more responsive infrastructure improvements tailored to local needs, as counties could prioritize projects that directly benefit their communities. Furthermore, this change may attract private investment and foster partnerships to further drive economic development at the local level.

Summary

SB1100 proposes amendments to Article VII, Section 12 of the Hawaii Constitution to authorize counties to issue tax increment bonds. This legislative move aims to enable local governments to generate funding for public works and improvements within designated tax increment districts. Tax increment financing is a common tool that allows counties to tap into future property tax revenues that result from increases in property value due to improvements within those districts. By allowing counties the flexibility to issue such bonds, the bill seeks to enhance local development efforts and stimulate economic growth.

Contention

Some concerns may arise regarding this bill related to the fiscal responsibility and management of funds. Critics might argue that allowing counties to issue tax increment bonds could lead to financial mismanagement or over-reliance on future revenues that are not guaranteed. Additionally, there may be disputes about which projects qualify under this financing method and its effectiveness in genuinely improving local economies. Advocates for local control and financing strategies will need to ensure that the measures implemented under SB1100 are transparent and beneficial to all community stakeholders.

Latest SB1100 Activity

Companion Bills

HI HB1457

Same As Proposing Amendments To Article Vii, Section 12, Of The Hawaii Constitution To Authorize The Counties To Issue Tax Increment Bonds.

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 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 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 HB1457

Proposing Amendments To Article Vii, Section 12, Of The Hawaii Constitution To Authorize The Counties To Issue Tax Increment Bonds.

HI HB1457

Proposing Amendments To Article Vii, Section 12, Of The Hawaii Constitution To Authorize The Counties To Issue Tax Increment Bonds.

HI SB1100

Proposing Amendments To Article Vii, Section 12, Of The Hawaii Constitution To Authorize The Counties To Issue Tax Increment Bonds.

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.