Bill Text: HI SB898 | 2011 | Regular Session | Introduced
Bill Title: Honolulu Urban Caucus; Affordable Housing; RHTF
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2011-02-15 - (S) Report adopted; Passed Second Reading and referred to WAM. [SB898 Detail]
Download: Hawaii-2011-SB898-Introduced.html
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THE SENATE |
S.B. NO. |
898 |
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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 housing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 201H‑201, Hawaii Revised Statutes, is amended by adding a new definition to be appropriately inserted and to read as follows:
""Moderate rehabilitation" means rehabilitation to upgrade a dwelling unit to a decent, safe, and sanitary condition, or to repair or replace major building systems or components in danger of failure."
SECTION 2. Section 201H-202, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:
"(d) The fund shall be used to provide
loans or grants for the development, pre-development, construction, acquisition,
preservation, and [substantial] moderate rehabilitation of rental
housing units. Permitted uses of the fund may include but are not limited to
planning, design, land acquisition, costs of options, agreements of sale,
downpayments, equity financing, capacity building of nonprofit housing
developers, or other housing development services or activities as provided in
rules adopted by the corporation pursuant to chapter 91. The rules may provide
for a means of recapturing loans or grants made from the fund if a rental
housing project financed under the fund is refinanced or sold at a later date.
The rules may also provide that moneys from the fund shall be leveraged with
other financial resources to the extent possible."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Honolulu Urban Caucus; Affordable Housing; RHTF
Description:
Amends the allowable uses of rental housing trust fund moneys to include the moderate rehabilitation of rental housing units. Adds a definition of "moderate rehabilitation" to certain sections of law that apply to the rental housing trust fund.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
