HB 523 Summary

• Repeals Chapter 206E, Hawaii Revised Statutes, eliminating the Hawaii Community Development Authority effective June 30, 2011.

• Returns redevelopment responsibilities for blighted and economically depressed areas to the various counties, finding they are now capable of managing such projects independently.

• Preserves all existing rules, policies, contracts, deeds, leases, loans, permits, and other documents executed by the Hawaii Community Development Authority, keeping them in full force and effect.

• Authorizes the Hawaii Community Development Authority to carry over unexpended and unencumbered funds into the second year of fiscal biennium 2009-2011, with remaining funds returned to the general fund at the biennium's end.

• Includes protections to ensure the repeal does not jeopardize federal aid, impair bond obligations, conflict with federal requirements, or violate existing contracts under state or federal constitutional law.