HOUSE OF REPRESENTATIVES

H.B. NO.

2790

THIRTY-SECOND LEGISLATURE, 2024

H.D. 1

STATE OF HAWAII

 

 

 

 

 

 

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 authorize the issuance of general obligation bonds to reinstate the housing loan and mortgage program, also known as the hula mae single family loans program.

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $           or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2024-2025 to be deposited into the dwelling unit revolving fund established pursuant to section 201H-191, Hawaii Revised Statutes.

     SECTION 3.  There is appropriated out of the dwelling unit revolving fund the sum of $           or so much thereof as may be necessary for fiscal year 2024-2025 to reinstate the housing loan and mortgage program, also known as the hula mae single family loans program.

     The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.

     SECTION 4.  The Hawaii housing finance and development corporation shall submit a report of its findings and recommendations, including any proposed legislation, to the legislature no later than sixty days prior to the convening of the regular session of 2025.  The report shall include data on all home loans issued by lenders pursuant to this Act and an analysis of feasibility of continuing to fund the operations of the housing loan and mortgage program.

     SECTION 5.  This Act shall take effect on July 1, 3000.

 


 

Report Title:

Housing Loan and Mortgage Program; General Obligation Bonds; Dwelling Unit Revolving Fund; Hula Mae Single Family Loans Program

 

Description:

Authorizes the issuance of general obligation bonds to reinstate the Hula Mae Single Family Loans Program in order to assist homeowners in obtaining mortgage loans.  Effective 7/1/3000.  (HD1)

 

 

 

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