S.B. 1101 Summary

• Amends section 47C-1 to include "tax increment bonds" in the definitions section, referencing Hawaii Constitution Article VII, Section 12.

• Modifies section 47C-2 to require county directors of finance to reference "tax increment as defined in section 46-102" in supporting schedules for debt limit statements.

• Updates section 47C-3 to allow supplemental debt summaries to exclude tax increment bonds under clause 10 of Hawaii Constitution Article VII, Section 13, alongside existing exclusion clauses.

• Takes effect upon approval and ratification of a constitutional amendment that authorizes counties to issue tax increment bonds and excludes such bonds from county funded debt calculations.