Bill Text: HI HB1736 | 2024 | Regular Session | Introduced
Bill Title: Relating To Maui Wildfire Victims.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2024-01-24 - Referred to WAL, FIN, referral sheet 1 [HB1736 Detail]
Download: Hawaii-2024-HB1736-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1736 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
Relating to maui wildfire victims.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the August 2023 Maui wildfire devastated the town of Lahaina and caused over 3,700 residential structures to be either destroyed or uninhabitable. As of January 2024, over 2,000 households still lacked a permanent housing solution. Accordingly, the purpose of this Act is to establish a down payment program to assist homeowners who lost their home in the Maui wildfire.
SECTION 2. Chapter 201H, Hawaii Revised Statutes, is amended by adding two new sections to be appropriately designated and to read as follows:
"§201H- Wildfire victim down payment program;
established. (a) There is established the wildfire victim down
payment program to assist homeowners who lost homes in the 2023 Maui wildfires
to purchase new homes. The program shall
be administered by the corporation.
(b) Subject to available funds, the program shall
provide no-interest and no-fee loans to Maui wildfire victims. The maximum term of each loan shall be
twenty-five years. The total loan
provided to any individual shall not exceed the lesser of $75,000 or ten per
cent of the value of the single-family residence to be purchased.
(c) To be eligible for a loan under the program:
(1) The applicant shall have
owned a single family residence in Lahaina, Maui, on August 8, 2023;
(2) The applicant
shall have used that single family residence as the applicant's primary
residence on August 7, 2023;
(3) That single
family residence shall have been damaged by the wildfires on August 8, 2023;
and
(4) The applicant shall
agree to use the loan to make a down payment for the purchase of a
single family residence.
(d) If any applicant who has received a loan
under this section fails to satisfy the requirements of subsection (c)(4), the
applicant shall repay the loan plus interest at the rate of eight per cent.
(e) The corporation may contract with a private
entity to administer loans made pursuant to this section.
(f) For purposes of this section, "single
family residence" shall have the same meaning as in section 521-8.
§201H- Wildfire
victim down payment special fund.
(a) There is established in
the state treasury the wildfire victim down payment special fund, into which
shall be deposited the following moneys:
(1) Appropriations made
by the legislature to the special fund; and
(2) Repayments to
the special fund made pursuant to section 201H‑ (d).
(b) Moneys in the special fund shall be used for the purposes of the wildfire victim down payment program, including contracting with a private entity to administer loans and paying any fees or interest that would be required for the private entity to provide a no-interest and no-fee loan to an applicant under the program."
SECTION 3. In accordance with section 9 of article VII, of the Constitution of the State of Hawaii and sections 37-91 and 37-93, Hawaii Revised Statutes, the legislature has determined that the appropriations contained in this Act will cause the state general fund expenditure ceiling for fiscal year 2024-2025 to be exceeded by $ , or per cent. The reasons for exceeding the general fund expenditure ceiling are that the appropriations made in this Act are necessary to serve the public interest and to meet the needs provided for by this Act.
SECTION 4. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for deposit into the wildfire victim down payment special fund.
SECTION 5. There is appropriated out of the wildfire victim down payment special fund the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for the wildfire victim down payment program.
The sums appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.
SECTION 6. New statutory material is underscored.
SECTION 7. This Act shall take effect on July 1, 2024.
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INTRODUCED BY: |
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Report Title:
Minority Caucus Package; Maui Wildfires; General Fund Exceeded
Description:
Establishes a program to provide no interest and no fee loans for down payments to Maui wildfire victims who lost their homes in the wildfire. Appropriates moneys. Declares that the appropriation exceeds the State general fund expenditure ceiling for 2024-2025.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
