HI SB140

Establishes the transit-oriented development zone improvement board to govern a new transit-oriented development zone improvement program focused on strategic public facility investments.

Defines transit-oriented development zones as parcels within county-designated zones or within a one-half mile radius of proposed or existing transit stations; in counties with populations exceeding 500,000, zones must include a rail station or planned rail station.

Authorizes the board to acquire property, construct public facilities (including streets, sidewalks, parks, and schools), issue bonds, and assess benefited real property to finance transit-oriented development zone improvements.

Board membership includes five voting members (one from Senate nomination, one from House nomination, one at-large, one cultural specialist, and three ex-officio members from state finance, planning, and housing agencies) and one non-voting county planning director.

Takes effect July 1, 2021.