Bill Text: HI HB276 | 2016 | Regular Session | Introduced
Bill Title: County Infrastructure Development Revolving Loan Fund; Establishment ($)
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Introduced - Dead) 2015-12-17 - Carried over to 2016 Regular Session. [HB276 Detail]
Download: Hawaii-2016-HB276-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
276 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to county infrastructure development.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the lack of available land with the necessary infrastructure improvements to support residential development is a significant barrier to the development of affordable housing.
The purpose of this Act is to create a no-interest loan fund to provide loans to the counties for infrastructure improvements that support the development of affordable housing.
SECTION 2. Chapter 201H, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§201H- County infrastructure development revolving loan fund. (a) There is established the county infrastructure development revolving loan fund to be administered by the corporation.
(b) The fund shall consist of:
(1) Moneys from the federal government;
(2) Private contributions;
(3) Loan payments; and
(4) Appropriations made by the legislature;
(c) Notwithstanding sections 36-27 and 26-30 to the contrary, an amount from the fund, to be set by the corporation and authorized by the legislature, may be used for administrative expenses incurred by the corporation in administering the fund; provided that moneys in the fund may not be used to finance day-to-day expenses of projects allotted fund moneys.
(d) The fund shall be used to provide no-interest loans to the counties for the development, pre-development, or construction of infrastructure projects to expedite the building of affordable housing development. Permitted uses of the funds include planning, design, land acquisition, costs of options, agreements of sale, or any other infrastructure-related services or activities that may be provided in rules adopted by the corporation pursuant to chapter 91.
(e) The corporation shall submit annual reports to the legislature no later than twenty days prior to the convening of each regular session describing the projects funded and the corporation's efforts to develop affordable housing infrastructure development projects.
(f) For purposes of this section:
"Affordable housing" means housing that is affordable to households with incomes at or below one hundred forty per cent of the median family income as determined by the United States Department of Housing and Urban Development.
"Fund" means the county infrastructure development revolving loan fund.
"Infrastructure" means any utility, relating to affordable housing including sewer, roads, drainage, bridges, and water, including conduits, pumps, and treatment plants generally considered as county responsibilities and under county ownership."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2050.
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INTRODUCED BY: |
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Report Title:
County Infrastructure Development Revolving Loan Fund; Establishment
Description:
Establishes the County Infrastructure Development Revolving Loan Fund and specifies uses of the Fund.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
