Report Title:

SPRB; Honolulu Neighborhood Housing Services; Extension

Description:

Increases authorization for special purpose revenue bonds under Act 296, SLH 1999.  Extends repeal date of SPRBs for Honolulu Neighborhood Housing Services from 6/30/08 to 6/30/2011.

THE SENATE	S.B. NO.	1210
TWENTY-FOURTH LEGISLATURE, 2007		S.D. 1
STATE OF HAWAII
2

A BILL FOR AN ACT

RELATING TO HEALTH CARE FACILITIES.

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

     SECTION 1.  Act 296, Session Laws of Hawaii 1999, is amended is amended by amending section 2 to read as follows:

     "SECTION 2.  Pursuant to part II, chapter 39A, Hawaii Revised Statutes, the department of budget and finance, with the approval of the governor, is authorized to issue in one or more series special purpose revenue bonds in a total amount not to exceed [$80,000,000] $160,000,000 for the purpose of assisting the Honolulu Neighborhood Housing Services, Inc., a Hawaii not‑for-profit corporation, in planning, designing, and constructing a senior citizen lifecare retirement community.

     The legislature finds and determines that the planning, designing, and construction of a senior citizen lifecare retirement community constitutes a project as defined in part II, chapter 39A, Hawaii Revised Statutes, and the financing thereof is assistance to a not-for-profit corporation that provides health care facilities to the general public."

     SECTION 2.  Act 296, Session Laws of Hawaii 1999, as amended by Act 165, Session Laws of Hawaii 2003, is amended by amending section 6 to read as follows:

     "SECTION 6.  The authorization to issue special purpose revenue bonds under this Act shall lapse on June 30, [2008.] 2011."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect on July 1, 2007.