Bill Text: HI SB489 | 2024 | Regular Session | Introduced

Hawaii Senate Bill 489

Introduced

Bill Title: Relating To The Affordable Housing Revolving Fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-12-11 - Carried over to 2024 Regular Session. [SB489 Detail]

Download: Hawaii-2024-SB489-Introduced.html

THE SENATE	S.B. NO.	489
THIRTY-SECOND LEGISLATURE, 2023
STATE OF HAWAII

A BILL FOR AN ACT

relating to the affordable housing revolving fund.

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

SECTION 1. Act 88, Session Laws of Hawaii 2021, as amended by Act 248, Session Laws of Hawaii 2022, section 4, is amended by amending section 6.4 to read as follows:

"SECTION 6.4. Provided that of the general fund appropriation for Hawaii housing finance and development corporation (BED160), the sum of $5,000,000 or so much thereof as may be necessary for fiscal year 2022-2023 shall be deposited into the affordable homeownership revolving fund established pursuant to section 201H-206, Hawaii Revised Statutes, and the same amount or so much thereof as may be necessary for fiscal year 2022-2023 shall be expended for the [purpose of providing, in whole or in part, loans to nonprofit community development financial institutions and nonprofit housing development organizations for the development of affordable homeownership housing projects;] purposes for which the revolving fund is established; provided further that the moneys provided in this section shall not lapse at the end of the fiscal year for which the appropriation is made; provided further that any moneys that remain unencumbered on June 30, 2024, shall lapse on that date."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:	_____________________________

Report Title:

State Budget; Hawaii Housing Finance and Development Corporation; Affordable Homeownership Revolving Fund

Description:

Amends the Supplemental Appropriations Act of 2022 to specify that the appropriation for Hawaii housing finance and development corporation (BED160) is to be deposited into and expended from the affordable homeownership revolving fund for purposes of the revolving fund.

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