HOUSE OF REPRESENTATIVES

H.B. NO.

521

TWENTY-SEVENTH LEGISLATURE, 2013

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to affordable housing.

 

 

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

 


     SECTION 1.  The legislature finds that according to the Hawaii housing planning study in 2011, there is an estimated need for over 13,000 rental units by 2016 for households at or below eighty per cent of the area median income.

     The purpose of this Act is to implement the recommendation of the Hawaii interagency council on homelessness to increase funding of the rental housing trust fund to increase the inventory of affordable rental units.

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $           or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2013-2014 for deposit into the rental housing trust fund established pursuant to section 201H-202, Hawaii Revised Statutes.

     SECTION 3.  The director of finance is authorized to issue general obligation bonds in the sum of $           or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2014-2015 for deposit into the rental housing trust fund established pursuant to section 201H-202, Hawaii Revised Statutes.

     SECTION 4.  The sums appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.

     SECTION 5.  The appropriations made by this Act shall not lapse at the end of the fiscal biennium for which the appropriations are made; provided that all moneys from the appropriations unencumbered as of June 30, 2016, shall lapse as of that date.

     SECTION 6.  This Act shall take effect on July 1, 2013.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

General Obligation Bonds; Appropriation; Rental Housing Trust Fund

 

Description:

Authorizes the issuance of general obligation bonds and the appropriation of funds for deposit into the rental housing trust fund to finance affordable rental housing development.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.