Bill Text: HI SB443 | 2010 | Regular Session | Introduced

Hawaii Senate Bill 443 (Prior Session Legislation)

Introduced

Bill Title: Transit Oriented Development; County Infrastructure Development Revolving Loan Fund

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB443 Detail]

Download: Hawaii-2010-SB443-Introduced.html

Report Title:

Transit Oriented Development; County Infrastructure Development Revolving Loan Fund

Description:

Establishes a county infrastructure development revolving loan fund to provide no-interest loans to the counties for infrastructure improvements that support transit oriented development; requires annual report to the legislature.

THE SENATE	S.B. NO.	443
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

relating to transit oriented development.

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.

The legislature further finds that transit oriented development often requires capacity upgrades of existing infrastructure, and much of this is county infrastructure. The counties are already constrained in maintaining their infrastructure systems, and upgrading these systems would be financially difficult. The legislature recognizes the need to support the counties by providing another financing resource without unduly draining the state budget.

The purpose of this Act is to create a county infrastructure development revolving loan fund to provide no‑interest loans to the counties 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- County infrastructure development revolving loan fund. (a) There is established the county infrastructure development revolving loan fund to be administered by the director of finance. For the purposes of this section, "infrastructure" means any utility such as sewer, roads, drainage, bridges and water, including conduits, pumps, and treatment plants generally associated as county responsibilities and ownership.

(b) The director may authorize an amount from the fund to be used for administrative expenses incurred in administering the fund; provided that fund moneys may not be used to finance day-to-day administrative expenses of projects allotted fund moneys.

(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 to the counties for the development, pre-development, or construction of infrastructure projects to expedite the building of transit oriented development, particularly those projects 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 number of properties.

(e) The director 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 the director has received."

SECTION 3. New statutory material is underscored.

SECTION 4. This Act shall take effect upon its approval.