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HOUSE OF REPRESENTATIVES |
H.B. NO. |
951 |
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THIRTY-SECOND LEGISLATURE, 2023 |
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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. There
is appropriated out of the general revenues of the State of Hawaii the sum of $300,000,000
or so much thereof as may be necessary for fiscal year 2023-2024 to be
deposited into the rental housing revolving fund established by section
201H-202, Hawaii Revised Statutes.
SECTION 2. There
is appropriated out of the rental housing revolving fund the sum of $300,000,000
or so much thereof as may be necessary for fiscal year 2023-2024 to carry out
the purposes of the rental housing revolving fund; provided that up to
$150,000,000 may be used for mixed-income rental projects or units in
mixed-income rental projects targeted for individuals and families with incomes
above sixty per cent and at or below one hundred per cent of the median family
income for the State of Hawaii; provided further any moneys unused and
unencumbered as of June 30, 2024, may be used for other rental housing projects
pursuant to sections 201H-202(e)(1)(A) and 201H-202(e)(1)(B), Hawaii Revised
Statutes.
The sum
appropriated shall be expended by the Hawaii housing finance and development
corporation for the purposes of this Act; provided that the appropriation shall
not lapse at the end of the fiscal year for which the appropriation is made;
provided further that all moneys from the appropriation that are unencumbered
as of June 30, 2025, shall lapse on that date.
SECTION 3. This Act shall take effect on July 1, 2023.
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INTRODUCED BY: |
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Report Title:
Rental Housing Revolving Fund; Appropriation
Description:
Deposits funds into the rental housing revolving fund to be used to provide grants or loans to mixed-income rental projects or units qualifying individuals and families.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.