RELATING TO TAX INCREMENT BONDS.
Sponsored By: Angus L.K. McKelvey (Democratic)
In Committee
Summary
Requires counties to commission a comprehensive economic impact analysis before issuing tax increment bonds and make the analysis publicly available. Requires counties issuing tax increment bonds to conduct publicly available biennial independent audits and report to the Legislature. Requires counties issuing tax increment bonds to establish a review board to oversee tax increment bond projects. Restricts the amount of total outstanding tax increment bonds that may be excluded from the calculation of a county's debt limits from exceeding twenty per cent. Conforms county debt limit statements law to exclude tax increment bonds from the debt limit of the counties if a constitutional amendment authorizing the use of tax increment bonds and excluding tax increment bonds from determinations of the counties' funded debt is ratified.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Angus L.K. McKelvey
Democratic • Senate
Cosponsors
Kurt Fevella
Republican • Senate
Carol Fukunaga
Democratic • Senate
Troy N. Hashimoto
Democratic • Senate
Michelle N. Kidani
Democratic • Senate
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Carried over to 2026 Regular Session.
12/8/2025Referred to EIG, WAM.
1/21/2025SenateIntroduced and passed First Reading.
1/15/2025SenatePending Introduction.
1/14/2025Senate
Bill Text
Original
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