Bill Text: HI HB2790 | 2024 | Regular Session | Introduced
Bill Title: Relating To Housing.
Spectrum: Bipartisan Bill
Status: (Passed) 2024-05-29 - Act 029, 05/28/2024 (Gov. Msg. No. 1129). [HB2790 Detail]
Download: Hawaii-2024-HB2790-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2790 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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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. The purpose of this Act is to authorize the issuance of state bonds in order to revive the housing loan and mortgage program, also known as the hula mae single family program.
SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $ or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2024-2025 for the purpose of reinstating the housing loan and mortgage program, also known as the hula mae single family program.
The appropriation made shall be deposited into the dwelling unit revolving fund established in section 201H-191, Hawaii Revised Statutes.
SECTION 3. The sum of $ or so much thereof is appropriated out of the dwelling unit revolving fund for the purpose of reinstating the housing loan and mortgage program, also known as the hula mae single family program.
The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.
SECTION 4. The Hawaii housing finance and development corporation shall submit a report to the legislature no later than sixty days before the commencement of the 2025 regular session on the implementation of this Act. The report shall include data on all home loans issued by lenders pursuant to this Act and an analysis of the desirability of continuing to issue general obligation bonds to continue to fund the operations of the housing loan and mortgage program.
SECTION 5. This Act shall take effect on July 1, 2024.
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INTRODUCED BY: |
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Report Title:
Housing Loan and Mortgage Program; Dwelling Unit Revolving Fund
Description:
Authorizes the issuance of general obligation bonds to reactivate the Hula Mae Single Family Program in order to assist homeowners in obtaining mortgage loans.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
