Report Title:

Habitat for Humanity; Revolving Loan

Description:

Makes technical and housekeeping amendments to ensure that the Hawaii Habitat for Humanity Association's zero-interest revolving loan can continue to assist low-income families to become homeowners.  (CD1)

THE SENATE	S.B. NO.	1017
TWENTY-FOURTH LEGISLATURE, 2007		H.D. 1
STATE OF HAWAII		C.D. 1

A BILL FOR AN ACT

RELATING TO HOUSING.

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

     SECTION 1.  The purpose of this Act is to make technical and housekeeping amendments to ensure that the Hawaii Habitat for Humanity Association's zero interest revolving-loan fund can continue to assist low-income families to become homeowners.

     SECTION 2.  Act 100, Session Laws of Hawaii 2006, is amended by amending section 22 to read as follows:

     "SECTION 22.  There is appropriated out of the general revenues of the State of Hawaii the sum of $700,000 or so much thereof as may be necessary for fiscal year 2006-2007 as a grant-in-aid to the Hawaii Habitat for Humanity Association to establish a zero interest revolving loan fund to be used to provide loans to low-income families to build self-help ownership homes [on leased from the State and] administered in accordance with subpart B of part III of chapter [201G,] 201H, Hawaii Revised Statutes.

     The sum appropriated shall be expended by the Hawaii housing and finance development [administration] corporation for the purposes of this part."

     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  Statutory material to be repealed is bracketed and stricken.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 and shall apply retroactively to July 1, 2006.