Bill Text: HI HB1693 | 2016 | Regular Session | Amended
Bill Title: Rental Housing Revolving Fund
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-02-04 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on HSG with none voting aye with reservations; none voting no (0) and Representative(s) Thielen excused (1). [HB1693 Detail]
Download: Hawaii-2016-HB1693-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1693 |
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TWENTY-EIGHTH LEGISLATURE, 2016 |
H.D. 1 |
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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-202, Hawaii Revised Statutes, is amended by amending subsection (e) to read as follows:
"(e) Moneys available in the fund shall be used for the purpose of providing, in whole or in part, loans or grants for rental housing projects in the following order of priority:
(1) Projects or units in projects that are allocated low‑income housing credits pursuant to the state housing credit ceiling under section 42(h) of the Internal Revenue Code of 1986, as amended, or projects or units in projects that are funded by programs of the United States Department of Housing and Urban Development and United States Department of Agriculture Rural Development wherein:
(A) At least fifty per cent of the available
units are for persons and families with incomes at or below [eighty] sixty
per cent of the median family income of which at least [five] ten
per cent of the available units are for persons and families with incomes at or
below thirty per cent of the median family income; and
(B) The remaining units are for persons and
families with incomes at or below [one hundred] eighty per cent
of the median family income;
provided that the corporation may establish rules to ensure full occupancy of fund projects; and
(2) Mixed-income rental projects or units in a mixed‑income
rental project wherein all of the available units are for persons and families
with incomes at or below one hundred [forty] per cent of the median
family income."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2050.
Report Title:
Rental Housing Revolving Fund
Description:
Amends the household income level and unit availability eligibility requirements for the provision of low-income housing and mixed-income rental project loans and grants made from the Rental Housing Revolving Fund. (HB1693 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
