Bill Text: HI HB1699 | 2016 | Regular Session | Introduced

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Bill Title: Board of Land and Natural Resources; Bureau of Conveyances; Recording Fees; Hawaii Housing Finance and Development Corporation; Dwelling Unit Revolving Fund

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2016-01-25 - Referred to WAL, HSG, FIN, referral sheet 1 [HB1699 Detail]

Download: Hawaii-2016-HB1699-Introduced.html

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HOUSE OF REPRESENTATIVES	H.B. NO.	1699
TWENTY-EIGHTH LEGISLATURE, 2016
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to housing.

 

 

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

 

     SECTION 1.  (a)  The board of land and natural resources shall amend its administrative rules, as appropriate, to:

     (1)  Increase all recording fees imposed by the bureau of conveyances by one hundred per cent; and

     (2)  Specify that the increase in the amount of fees is to be deposited into the dwelling unit revolving fund established under section 201H-191, Hawaii Revised Statutes.

     (b)  The moneys deposited into the dwelling unit revolving fund under subsection (a) shall be used by the Hawaii housing finance and development corporation, in association with nonprofit eligible developers, to construct housing intended for rent or sale to eligible individuals and families with an income of up to eighty per cent of the area median income as determined by the United States Department of Housing and Urban Development.

     SECTION 2.  This Act shall take effect on July 1, 2016.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Board of Land and Natural Resources; Bureau of Conveyances; Recording Fees; Hawaii Housing Finance and Development Corporation; Dwelling Unit Revolving Fund

 

Description:

Doubles recording fees imposed by the bureau of conveyances and requires the increase in fees to be deposited into the dwelling unit revolving fund.  Requires the moneys deposited to be used for the construction of housing intended for rent or sale to eligible individuals and families with an income of up to 80% of the area median income.

 

 

 

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