HI HB1586

Establishes a Stadium Development District comprising all state land under the Stadium Authority's jurisdiction to redevelop underutilized Aloha Stadium lands for recreational, residential, educational, and commercial uses.

Grants Hawaii Community Development Authority (HCDA) authority to facilitate development within the district, coordinate with federal and state agencies, develop necessary infrastructure, and allow private enterprise reuse of state property.

Directs Department of Land and Natural Resources to transfer fee simple title of five identified parcels (TMK 99003055:0000, 99003061:0000, 99003070:0000, 99003071:0000, and any others) to Stadium Authority.

Allows land leases within the district to extend up to 99 years and authorizes issuance of revenue bonds (up to $180,000,000) and general obligation bonds ($150,000,000) to finance development.

Appropriates $20,000,000 in general revenues for fiscal year 2019-2020 and requires annual comprehensive progress reports to the legislature by each regular legislative session.