HOUSE OF REPRESENTATIVES	H.B. NO.	2629
THIRTIETH LEGISLATURE, 2020		H.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

 

 

RELATING TO HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION.

 

 

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

 

     SECTION 1.  Chapter 201H, Hawaii Revised Statutes, is amended by amending the title of part IV to read:

"[[]PART IV.[]]  EXPENDITURES OF REVOLVING FUNDS UNDER THE CORPORATION [EXEMPT FROM APPROPRIATION AND ALLOTMENT]"

     SECTION 2.  Section 201H-211, Hawaii Revised Statutes, is amended to read as follows:

     "§201H-211  Expenditures of revolving funds under the corporation exempt from appropriation and allotment[.]; deadline to award funds.  (a)  Except as to administrative expenditures, and except as otherwise provided by law, expenditures from the revolving funds administered by the corporation under subparts I and J of part III, relating to financing programs, or section 201H‑80 or 201H-123 may be made by the corporation without appropriation or allotment by the legislature; provided that no expenditure shall be made from and no obligation shall be incurred against any revolving fund in excess of the amount standing to the credit of the fund or for any purpose for which the fund may not lawfully be expended.

     (b)  Funds from the revolving funds administered by the corporation under subparts I and J of part III, relating to financing programs, or section 201H‑80 or 201H-123 awarded in response to the filing of a consolidated application, shall be awarded no later than      days after the deadline to file the consolidated application or no later than      days after the filing of a duly submitted consolidated application if no deadline has been established by the corporation.

     (c)  Nothing in sections 37-31 to 37-41 shall require the proceeds of the revolving funds identified in subparts I and J of part III, or section 201H-80 or 201H-123 to be reappropriated annually."

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  Statutory material to be repealed is bracketed and stricken.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

     SECTION 4.  This Act shall take effect upon on July 1, 2025.

 

 

Report Title:

HHFDC; Affordable Housing; Award Deadline

 

Description:

Requires the Hawaii Housing Finance and Development Corporation to award funds no later than an unspecified number of days after the deadline to file a consolidated application or no later than an unspecified number of days after the filing of a duly submitted consolidated application if no deadline has been established by the corporation.  Takes effect on 7/1/2025.  (HD1)

 

 

 

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