HOUSE OF REPRESENTATIVES
TWENTY-EIGHTH LEGISLATURE, 2015
STATE OF HAWAII
A BILL FOR AN ACT
RELATING TO INFRASTRUCTURE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 46-80.1, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) Any county having a charter may
enact an ordinance, and may amend the same from time to time, providing for the
creation of community facilities districts to finance special improvements in
the county. The special improvements may be provided and financed under the
ordinance. The county shall have the power to levy and assess a special tax on
property located in a district to finance the special improvements and to pay
the debt service on any bonds issued to finance the special improvements. The
county may issue and sell bonds to provide funds for the special improvements[
or , if requested by the county, the State may issue and sell revenue bonds
under section 201H-72. Bonds issued to provide funds for the special
improvements may be either: bonds secured only by the properties included in
the district and/or the special taxes thereon, or bonds payable from general
taxes and/or secured by the general taxing power of the county. If the bonds
are secured only by the properties included in the district and/or the special
taxes thereon, the bonds shall be issued according and subject to the
provisions of the ordinance. If the bonds are payable from general taxes or
secured by the general taxing power, the bonds shall be issued according and
subject to chapter 47."
SECTION 2. Section 201H-72, Hawaii Revised Statutes, is amended to read as follows:
"§201H-72 Issuance of bonds for the
development of infrastructure. Without limiting section 201H-71, the
corporation, pursuant to and in accordance with this subpart[
section 46-80.1(a), is authorized to issue bonds for the purpose of
financing the development of infrastructure for land owned by the corporation or
for land owned by an eligible developer as defined in section 201H-32 whose
housing project approval by a state or county agency requires the construction
of affordable housing."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2015.
Infrastructure; Community Facilities Districts
Allows counties to use community facilities districts as a method for repayment of infrastructure development loans administered by the Hawaii housing finance and development corporation to help support infrastructure for affordable housing developments. (HB277 CD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.