Bill Text: HI HB2072 | 2016 | Regular Session | Introduced
Bill Title: Future Caucus Package; Housing; Rental Housing Units; Rental Housing Revolving Fund
Spectrum: Slight Partisan Bill (Democrat 6-3)
Status: (Introduced - Dead) 2016-01-27 - Referred to HSG, FIN, referral sheet 2 [HB2072 Detail]
Download: Hawaii-2016-HB2072-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2072 |
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TWENTY-EIGHTH LEGISLATURE, 2016 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the rental housing revolving fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the development and rehabilitation of rental housing in the State is a priority and must be addressed to provide for future generations. Funding must be available to provide housing to keep families intact and children off the streets.
The legislature further finds that the rental housing revolving fund provides funding for rental housing units, but is currently capped at $38,000,000. This amount is not sufficient to provide the funding needed to address the State's current housing crisis.
The purpose of this Act is to amend the cap on moneys deposited into the rental housing revolving fund to allow up to $100,000,000 to be paid into the fund, to support the development and rehabilitation of more rental housing units in the State.
SECTION 2. Section 247-7, Hawaii Revised Statutes, is amended to read as follows:
"§247-7 Disposition of taxes. All taxes collected under this chapter shall be paid into the state treasury to the credit of the general fund of the State, to be used and expended for the purposes for which the general fund was created and exists by law; provided that of the taxes collected each fiscal year:
(1) Ten per cent or $6,800,000, whichever is less, shall be paid into the land conservation fund established pursuant to section 173A-5; and
(2) Fifty per cent or [$38,000,000,] $100,000,000,
whichever is less, shall be paid into the rental housing revolving fund established
by section 201H-202."
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 Statutory material to be repealed is bracketed and stricken.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, 2016.
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INTRODUCED BY: |
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Report Title:
Future Caucus Package; Housing; Rental Housing Units; Rental Housing Revolving Fund
Description:
Raises the cap on moneys deposited into the rental housing revolving fund to provide access to more funds for the development and rehabilitation of rental housing units.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
