Report Title:

Housing Financing Programs

Description:

Authorizes up to $2,000,000,000 in bonds to be issued by the Housing and Community Development Corporation of Hawaii (HCDCH) in connection with any program to provide housing for active or retired United States military personnel, their families, and other authorized persons. (HB2181 HD2)

HOUSE OF REPRESENTATIVES

H.B. NO.

2181

TWENTY-SECOND LEGISLATURE, 2004

H.D. 2

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO HOUSING FINANCING PROGRAMS.

 

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

SECTION 1. Section 201G-161, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) The corporation, with the approval of the governor, may issue from time to time bonds (including refunding bonds to pay, retire, or provide for the retirement of bonds previously issued by the corporation) in amounts not exceeding the total amount of bonds authorized to be issued by the legislature for any of its corporate purposes[.]; provided however, that bonds may be issued in connection with any program whose primary purpose is to provide housing for active or retired United States military personnel, their families, and other persons authorized by any branch of the United States military to reside in such housing; provided further that the aggregate principal amount of all outstanding bonds issued by the corporation for such military housing projects shall total no more than $2,000,000,000."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.