Bill Text: HI HB1045 | 2018 | Regular Session | Introduced
Bill Title: Relating To The Housing Loan And Mortgage Program.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-11-30 - Carried over to 2018 Regular Session. [HB1045 Detail]
Download: Hawaii-2018-HB1045-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1045 |
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TWENTY-NINTH LEGISLATURE, 2017 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE HOUSING LOAN AND MORTGAGE PROGRAM.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the affordable housing crisis continues to be one of the State's most significant and challenging social problems and is a critical issue for many Hawaii residents. As the cost of housing increases, the State must continue to assist residents in obtaining affordable rental housing.
The purpose of this Act is to provide that assistance by increasing the Hula Mae multifamily revenue bond authorization from $1,000,000,000 to $1,500,000,000.
SECTION 2. Act 291, Session Laws of Hawaii 1980, as amended by Act 304, Session Laws of Hawaii 1996; Act 185, Session Laws of Hawaii 2004; Acts 231 and 249, Session Laws of Hawaii 2007; Act 121, Session Laws of Hawaii 2008; Act 138, Session Laws of Hawaii 2012; and Act 162, Session Laws of Hawaii 2014, is amended by amending section 11 to read as follows:
"SECTION 11. Issuance of revenue bond;
amount authorized. Revenue bonds may be issued by the Hawaii housing
finance and development corporation pursuant to part III, chapter 39 and
subpart A of part III of chapter 201H, Hawaii Revised Statutes, in an aggregate
principal amount not to exceed [$1,000,000,000] $1,500,000,000 at
such times and in such amounts as the Hawaii housing finance and development
corporation deems advisable for the purpose of undertaking and maintaining any
of the housing loan programs under subpart A of part III of chapter 201H,
Hawaii Revised Statutes, relating to the funding or purchasing of eligible
project loans."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act, upon its approval, shall take effect on July 1, 2017.
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INTRODUCED BY: |
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BY REQUEST
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Report Title:
Housing Loan And Mortgage Program
Description:
Increases the Hula Mae Multifamily Revenue Bond authorization amount.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
