HOUSE OF REPRESENTATIVES	H.B. NO.	277
TWENTY-EIGHTH LEGISLATURE, 2015
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to infrastructure.

 

 

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

 

     SECTION 1.  Section 46-80.1, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  Any county having a charter may enact an ordinance, and may amend the same from time to time, providing for the creation of community facilities districts to finance special improvements in the county.  The special improvements may be provided and financed under the ordinance.  The county shall have the power to levy and assess a special tax on property located in a district to finance the special improvements and to pay the debt service on any bonds issued to finance the special improvements.  The county may issue and sell bonds to provide funds for the special improvements[.], or , if requested by the county, the State may issue and sell revenue bonds under section 201H-72.  Bonds issued to provide funds for the special improvements may be either:  bonds secured only by the properties included in the district and/or the special taxes thereon, or bonds payable from general taxes and/or secured by the general taxing power of the county.  If the bonds are secured only by the properties included in the district and/or the special taxes thereon, the bonds shall be issued according and subject to the provisions of the ordinance.  If the bonds are payable from general taxes or secured by the general taxing power, the bonds shall be issued according and subject to chapter 47."

     SECTION 2.  Section 201H-72, Hawaii Revised Statutes, is amended to read as follows:

     "§201H-72  Issuance of bonds for the development of infrastructure.  Without limiting section 201H-71, the corporation, pursuant to and in accordance with this subpart or section 46-80.1(a), is authorized to issue bonds for the purpose of financing the development of infrastructure for land owned by the corporation or for land owned by an eligible developer as defined in section 201H-32 whose housing project approval by a state or county agency requires the construction of affordable housing."

     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  Statutory material to be repealed is bracketed and stricken.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, 2015.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

Infrastructure; Community Facilities Districts

 

Description:

Allows counties to use community facilities districts as a method for repayment of infrastructure development loans administered by the Hawaii housing finance and development corporation to help support infrastructure for affordable housing developments.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.