HI HB2518

Establishes a business mitigation relief pilot program administered by the Department of Business, Economic Development, and Tourism to assist for-profit businesses and non-religious non-profits negatively impacted by Honolulu rail construction.

Eligible businesses must be located adjacent to or directly affected by the rail corridor, solvent, in good standing with tax authorities, and meet minimum technical qualifications; excludes religious businesses, those deriving over 60% revenue from alcohol sales, those with sexual products/services over 50% of revenue, and national retailers unless independently franchised.

Provides financial assistance for utilities, insurance, rent, mortgage payments, payroll, and other documented business expenses, with maximum awards capped at $50,000 annually or 60% of annual revenue loss.

Businesses demonstrating at least 20% gross revenue loss due to rail construction may receive compensation for lost revenue, calculated proportionally for those with smaller losses; requires 24 months operational history and documentation of revenue decline in comparison to same quarter before construction began.

Appropriates funds from general state revenues for fiscal year 2016-2017 for program implementation; program terminates December 31 (specific date not filled in); effective July 1, 2050.