SUBJECT: GENERAL EXCISE, Exemption for Redevelopment of Public Lands
BILL NUMBER: HB 2578, HD-1
INTRODUCED BY: House Committee on Water, Land, & Hawaiian Affairs
EXECUTIVE SUMMARY: Authorizes the designation of areas or regions of public lands classified as commercial, industrial, resort and hotel, and the establishment and implementation of guidelines for the redevelopment of the areas or regions. Designates the public lands on the Waiakea peninsula on the island of Hawaii as the Waiakea Peninsula Redevelopment District. Allows the Board of Land and Natural Resources to issue a rent reduction or waiver for certain lessees’ expenses for demolition or provision of basic infrastructure. Authorizes a local redevelopment agency to contract with a developer for construction of non-residential projects on public land within a redevelopment area. Exempts the costs of construction of work or improvements of a redevelopment project from general excise and use taxes. Takes effect upon the County of Hawaii repealing the Banyan Drive Hawaii redevelopment agency. Makes an appropriation.
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