Report Title:

Housing; Rentals

 

Description:

Authorizes the issuance of $30,000,000 in revenue bonds to be deposited into the Rental Housing Trust Fund and to appropriate funds to carry out the purposes of the RHTF. (SD1)

 

THE SENATE

S.B. NO.

1021

TWENTY-FIRST LEGISLATURE, 2001

S.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO THE RENTAL HOUSING TRUST FUND.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The housing and community development corporation of Hawaii, with the approval of the director of finance and of the governor, is authorized, pursuant to part III, chapter 39, Hawaii Revised Statutes, and part III, chapter 201G, Hawaii Revised Statutes, to issue revenue bonds in an aggregate principal amount not to exceed $30,000,000, at such times and in such amounts as it deems advisable for the purpose of carrying out the provisions of subpart Q of part III of chapter 201G, Hawaii Revised Statutes.

The proceeds of the revenue bonds shall be deposited into the rental housing trust fund created in section 201G-432, Hawaii Revised Statutes.

SECTION 2. There is appropriated out of the rental housing trust fund the sum of $30,000,000, or so much thereof as may be necessary, for fiscal year 2001-2002, to carry out the purposes of the rental housing trust fund.

The sum appropriated shall be expended by the housing and community development corporation of Hawaii.

SECTION 3. This Act shall take effect on July 1, 2001.