Report Title:

Housing; Fund transfers

Description:

Requires the Legislature to provide a declaration of findings and purposes setting forth the other purposes for which housing funds are being appropriated, transferred, or lapses, when the housing funds are used for purposes other than those established for each fund in statute. Requires 2/3 vote of the Legislature to approve the transfer or lapse of specified housing funds when they are used for other purposes. Allows the Hawaii public housing administration and the Hawaii housing finance and development administration to transfer funds between programs.

HOUSE OF REPRESENTATIVES

H.B. NO.

2354

TWENTY-THIRD LEGISLATURE, 2006

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO HOUSING FUNDS.

 

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

SECTION 1. Chapter 201G, Hawaii Revised Statutes, is amended by adding two new sections to be appropriately designated and to read as follows:

"§201G- Protection of housing funds; flexible administration. (a) All money contained in the special funds, revolving funds, or trust funds listed in subsection (b)_shall be used for the sole purposes set forth in their respective statutes, provided that if monies are appropriated, transferred, or lapsed for other purposes, the legislature shall include a declaration of findings and purposes setting forth the other purposes, the amounts, and the reasons why the appropriation, transfer, or lapse is necessary and shall require a two-thirds majority vote of each house of the legislature. (b) The special funds, revolving funds, and trust funds to which subsection (a) applies are as follows:

(1) State low-income housing revolving fund established under section 201G-45;

(2) Teachers' housing revolving fund established under section 201G-142;

(3) Housing for elders revolving fund established under section 201G-153;

(4) Housing finance revolving fund as established under section 201G-170;

(5) Kikala-keokea housing revolving fund established under section 201G-170;

(6) Rental assistance revolving fund established under section 201G-223;

(7) Dwelling unit revolving fund established under section 201G-411;

(8) Rental housing trust fund established under section 201G-432; and

(9) Fee simple residential revolving fund established under section 516-744.

(c) With the approval of the governor, the Hawaii public housing administration and the Hawaii housing finance and development administration may make transfers between funds listed in subsection (b) to meet the needs of other programs within and between the two administrations. The governor shall notify the legislature within sixty days of any transfer and shall provide the amount of the anticipated shortfall, reasons for the shortfall, and any effects the transfer will have on other programs."

SECTION 2. New statutory material is underscored.

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

INTRODUCED BY:

_____________________________

By Request