Bill Text: HI SB156 | 2016 | Regular Session | Introduced
Bill Title: Rental Housing Trust Fund; Public Housing; General Obligation Bonds; Appropriation ($)
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Introduced - Dead) 2016-01-21 - Re-Referred to HOU, WAM. [SB156 Detail]
Download: Hawaii-2016-SB156-Introduced.html
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THE SENATE |
S.B. NO. |
156 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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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:
PART I
SECTION 1. The legislature finds that according to the Hawaii housing planning study in 2011, there is an estimated need for over thirteen thousand rental units by 2016 for households at or below 80 per cent of the area median income. Of those needed rental units, nearly 75 per cent are needed by households at or below 50 per cent of the area median income. The legislature therefore finds that expanding affordable housing opportunities can greatly assist many of Hawaii's struggling families to achieve financial stability.
The purpose of this Act is to authorize the issuance of general obligation bonds for the rental housing trust fund and new public housing redevelopment.
PART II
SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $60,000,000 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 2015-2016 for deposit into the rental housing trust fund established pursuant to section 201H-202, Hawaii Revised Statutes.
SECTION 3. There is appropriated out of the rental housing trust fund the sum of $60,000,000 or so much thereof as may be necessary for fiscal year 2015-2016 and the same sum or so much thereof as may be necessary for fiscal year 2016-2017 for the purposes set forth in section 201H-202, Hawaii Revised Statutes.
The sums appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this part.
PART III
SECTION 4. The director of finance is authorized to issue general obligation bonds in the sum of $40,000,000 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 2015-2016 for new public housing redevelopment.
SECTION 5. The sum appropriated shall be expended by the Hawaii public housing authority for the purposes of this part.
PART IV
SECTION 6. The appropriation made by parts II and III of this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2018, shall lapse as of that date.
PART V
SECTION 7. This Act shall take effect on July 1, 2015.
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INTRODUCED BY: |
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Report Title:
Rental Housing Trust Fund; Public Housing; General Obligation Bonds; Appropriation
Description:
Authorizes the issuance of general obligation bonds for the rental housing trust fund and new public housing redevelopment.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
