HI HB528

Authorizes local redevelopment agencies to negotiate development agreements with developers for commercial, business, hotel, or resort uses on public lands within redevelopment areas, subject to county council approval, gubernatorial approval, and legislative authorization by concurrent resolution.

Development agreements must include specific terms: land description, permitted uses, compliance with state and county laws, construction start/completion dates, on-site and off-site improvements, lease terms and rent requirements, and any other necessary conditions.

Exempts amounts received from construction of work or improvements of redevelopment projects from general excise tax under Chapter 237.

Exempts materials, parts, and tools used by licensed persons for construction of redevelopment project work or improvements from use tax.

Effective date: July 1, 2019.