Bill Text: HI HB1224 | 2024 | Regular Session | Introduced
Bill Title: Relating To Housing.
Spectrum: Strong Partisan Bill (Democrat 10-1)
Status: (Introduced - Dead) 2023-12-11 - Carried over to 2024 Regular Session. [HB1224 Detail]
Download: Hawaii-2024-HB1224-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1224 |
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THIRTY-SECOND LEGISLATURE, 2023 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to housing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 201H-122, Hawaii Revised Statutes, is amended by amending the definition of "eligible project" to read as follows:
""Eligible project" means a rental housing project that:
(1) Is financed by the corporation pursuant to subpart B or D, or that the corporation determines will require rental assistance to make it financially feasible;
(2) Is subject to a regulatory agreement with the corporation;
(3) Maintains
in perpetuity at least [twenty] fifty per cent of its
units for eligible tenants; and
(4) Meets other qualifications as established by rules adopted by the corporation.
Notwithstanding any provision to the contrary, "eligible project" may also include a rental housing project that is financed by the corporation pursuant to subpart A."
SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
HHFDC; Rental Assistance Program; Reserve Percentage
Description:
Requires rental
housing projects to maintain, in perpetuity, 50% of the project's units for
certain low-income tenants in order to be eligible for the Hawaii Housing
Finance and Development Corporation's rental assistance program.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
