Bill Text: HI SB1184 | 2012 | Regular Session | Introduced
Bill Title: Transit-Oriented Development Infrastructure; Revolving Fund
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [SB1184 Detail]
Download: Hawaii-2012-SB1184-Introduced.html
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THE SENATE |
S.B. NO. |
1184 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO DEVELOPMENT INFRASTRUCTURE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that encouraging compact development discourages urban sprawl, preserves open space, protects watershed areas and agricultural lands, and reduces the cost of constructing and maintaining infrastructure systems. Rapid transit encourages and supports compact development. However, transit-oriented development often requires significant capacity upgrades of existing infrastructure. The State recognizes that it has a role in supporting transit-oriented development and recognizes the need to provide another financing resource without unduly draining the state budget. Therefore, the purpose of this Act is to create a no-interest loan revolving fund to provide loans for infrastructure improvements that support transit-oriented development.
SECTION 2. Chapter 36, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§36‑ Infrastructure development revolving loan fund. (a) There is established the infrastructure development revolving loan fund to be administered by the director of finance.
(b) An amount from the fund, to be set by the director of finance, may be used for administrative expenses incurred by the department of budget and finance in administering the fund; provided that fund moneys may not be used to finance day-to-day administrative expenses of projects allotted fund moneys.
(c) The following may be deposited into the fund:
(1) Appropriations made by the legislature;
(2) Private contributions;
(3) Loan payments;
(4) Other returns; and
(5) Moneys from the federal government and other sources.
(d) The fund shall be used to provide no-interest loans for the development, pre-development, or construction of infrastructure projects to expedite the building of transit-oriented development, particularly those involving affordable housing. Permitted uses of the funds may include planning, design, land acquisition, costs of options, agreements of sale, or other infrastructure-related services or activities as may be provided in rules adopted by the department pursuant to chapter 91. In determining which projects to fund, the director shall give first priority to projects that increase infrastructure capacity on a regional or collector system level, as opposed to those that only support capacities for specific, limited numbers of properties.
(e) The department shall submit an annual report to the legislature no later than twenty days prior to the convening of each regular session describing the projects funded and other applications it received.
(f) For purposes of this section, "infrastructure" means any utility such as sewer, roads, drainage, bridges, and water, including conduits, pumps, and treatment plants."
SECTION 3. New statutory material is underscored. SECTION 4. This Act shall take effect on July 1, 2011.
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INTRODUCED BY: |
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Report Title:
Transit-Oriented Development Infrastructure; Revolving Fund
Description:
Establishes an infrastructure development revolving fund to be administered by the director of finance.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
