Bill Text: HI SB2034 | 2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating To Housing.

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Introduced) 2024-02-09 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB2034 Detail]

Download: Hawaii-2024-SB2034-Introduced.html

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THE SENATE	S.B. NO.	2034
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO HOUSING.

 

 

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

 

     SECTION 1.  The director of finance is authorized to issue general obligation bonds in the sum of $500,000,000 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 financing the Hawaii housing finance and development corporation's programs to develop housing that is exclusively for residents of the State who are owner- or renter-occupants and own no other real property.

     The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $1,000,000,000 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 financing the Hawaii public housing authority's programs to develop housing that is exclusively for residents of the State who are owner- or renter-occupants and own no other real property.

     The sum appropriated shall be expended by the Hawaii public housing authority for the purposes of this Act.

     SECTION 3.  The appropriations made for the capital improvement projects authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2027, shall lapse as of that date.

     SECTION 4.  In accordance with section 9 of article VII of the Hawaii State Constitution and sections 37-91 and 37-93, Hawaii Revised Statutes, the legislature has determined that the appropriations contained in Act 164, Regular Session of 2023, and this Act will cause the state general fund expenditure ceiling for fiscal year 2024-2025 to be exceeded by $           or       per cent.  This current declaration takes into account general fund appropriations authorized for fiscal year 2024-2025 in Act 164, Regular Session of 2023, and this Act only.  The reasons for exceeding the general fund expenditure ceiling are that:

     (1)  The appropriation made in this Act is necessary to serve the public interest; and

     (2)  The appropriation made in this Act meets the needs addressed by this Act.

     SECTION 5.  This Act shall take effect on July 1, 2024.

 

INTRODUCED BY:	_____________________________

 

 

 

Report Title:

HHFDC; HPHA; Affordable Housing; General Obligation Bonds; Issuance; Expenditure Ceiling; Appropriations

 

Description:

Authorizes the issuance of general obligation bonds for the Hawaii Housing Finance and Development Corporation's and Hawaii Public Housing Authority's programs to develop housing exclusively for residents of the State who are owner- or renter-occupants and own no other real property.  Makes appropriations.

 

 

 

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