HI HB2167

Proposes constitutional amendments to Article VII, Sections 12 and 13 of the Hawaii Constitution to authorize counties and other political subdivisions to issue tax increment bonds.

Defines "tax increment bonds" as bonds repaid solely from real property taxes on assessed valuations in a tax increment district that exceed the baseline valuation from the fiscal year before the district's establishment.

Excludes tax increment bonds from the calculation of a political subdivision's funded debt limit, which is otherwise set at 15 percent of total assessed values of real property.

Clarifies that the legislature has authority to pass laws enabling tax increment bond issuance after previously authorizing counties to create tax increment districts for this purpose.

Requires voter approval through a statewide ballot question asking whether the constitution should be amended to confirm legislative authority over tax increment bonds.