HI HB1479

Establishes the Hilo Community Economic District in East Hawaii under the Hawaii Community Development Authority to facilitate economic development and infrastructure improvement in the area.

Creates the Hilo Community Economic Revolving Fund to receive all revenue, income, and receipts from district leases and operations, with a designated percentage transferred to the special land and development fund.

Authorizes the authority to grant leases for hotel, resort, commercial, and industrial uses within the district, with lands leased for 65 years in aggregate subject to public auction before renewal or new lease issuance.

Adds seven voting members to the authority's board representing the Hilo district, comprising four residents nominated by state legislators, three nominated by the county of Hawaii, all residing or working within one mile of the district boundary.

Repeals the act on June 30, 2037, or earlier upon the district's inclusion in a county redevelopment area or special improvement district; effective July 1, 2050.