HB 370 Summary

• Adds two new definitions to Hawaii's enterprise zones law: "historic property" (buildings over 50 years old listed on national or state historic registers) and "multi-family dwelling" (structures providing shelter for more than two dwellings).

• Expands the definition of "eligible business activity" to include construction or remodeling costs for health care facilities, historic properties, single-family residences, and multi-family dwellings.

• Increases the maximum number of enterprise zones that may be designated in each county from six to twelve areas for a twenty-year period.

• Implements recommendations from the 2009 construction industry task force and 2010 small business working group to encourage private investment in construction, development, and rehabilitation projects within designated enterprise zones.