HI HB1479

Establishes the Hilo Community Economic District as a community development district in East Hawaii under the Hawaii Community Development Authority (HCDA), with boundaries defined by specific tax map keys and street locations in the Hilo 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 HCDA to grant leases for hotel, resort, commercial, and industrial uses within the district, with lands leased for 65 years in the aggregate to be disposed of at public auction with current lessees able to bid.

Adds seven voting members to the HCDA board to represent the Hilo district, comprising four residents nominated by state legislators and three nominated by the Hawaii County Council, all residing or working within one mile of the district boundary.

Repeals on June 30, 2037, or upon the earlier inclusion of district lands in a county redevelopment area or special improvement district, with an effective date of July 1, 2050; directs HCDA to discuss with Hawaii County the feasibility of transitioning district management to the county.