Bill Text: HI SB2038 | 2024 | Regular Session | Introduced
Bill Title: Relating To The Hawaii Housing Finance And Development Corporation.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2024-02-14 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to JDC/WAM. [SB2038 Detail]
Download: Hawaii-2024-SB2038-Introduced.html
|
THE SENATE |
S.B. NO. |
2038 |
|
THIRTY-SECOND LEGISLATURE, 2024 |
|
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 201H-2, Hawaii Revised Statutes, is amended by amending subsections (b) and (c) to read as follows:
"(b) The corporation shall employ an executive
director who shall be nominated and, by and with the advice and consent of the
senate, appointed by the governor without regard to chapter 76, and who shall
serve at the pleasure of the governor.
The executive director shall employ,
exempt from chapter 76 and section 26-35(a)(4), [an executive director and]
an executive assistant. The executive
director shall be paid a salary not to exceed the salary of the director of
business, economic development, and tourism.
The executive assistant shall be paid a salary not to exceed ninety per
cent of the executive director's salary.
The corporation may employ, subject to chapter 76, technical experts and
officers, agents, and employees, permanent and temporary, as required. The corporation may also employ officers,
agents, and employees, prescribe their duties and qualifications, and fix their
salaries, not subject to chapter 76, when in the determination of the corporation,
the services to be performed are unique and essential to the execution of the
functions of the corporation. The
corporation may call upon the attorney general for legal services as it may
require. The corporation may delegate to
one or more of its agents or employees its powers and duties as it deems
proper.
(c) The [board] executive director
shall submit a report to the legislature no later than twenty days prior to the
convening of the regular session immediately following each adjustment of
salary of the executive director."
SECTION 2. Section 201H-3, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a)
There is created a board of directors of the Hawaii housing finance and
development corporation [consisting] that shall advise the executive
director in carrying out the purposes of this chapter. The board shall consist of nine members,
of whom six shall be public members appointed by the governor as provided in
section 26-34. At least four of the
public members shall have knowledge and expertise in public or private
financing and development of affordable housing. Public members shall be appointed from each
of the counties of Honolulu, Hawaii, Maui, and Kauai. At least one public member shall represent
community advocates for low-income housing, affiliated with private nonprofit
organizations that serve the residents of low-income housing. The public members of the board shall serve
four-year staggered terms; provided that the initial appointments shall be as
follows:
(1) Two members to be appointed for four years;
(2) Two members to be appointed for three years; and
(3) Two members to be appointed for two years.
The director of business, economic development, and
tourism and the director of finance, or their designated representatives, and a
representative of the governor's office, shall be ex officio[[],[]]
voting members. The corporation shall be
headed by the [board.] executive director."
SECTION 3. Section 201H-71, Hawaii Revised Statutes, is amended by amending subsections (g) and (h) to read as follows:
"(g)
Any housing project or projects authorized by, and undertaken pursuant
to, this chapter shall constitute an "undertaking" within the meaning
of that term as defined and used in part III, chapter 39. Any loan program authorized by, and undertaken
pursuant to, this chapter, including without limitation "housing loan
programs" defined in and authorized by subparts B and D, shall constitute
a "loan program" within the meaning of that term as defined and used
in part III, chapter 39. The corporation
shall constitute a "department" [and the board shall constitute a
"governing body" within the meaning of those terms] as defined
and used in part III, chapter 39.
(h) [Neither
the members of the board nor any] No person executing the bonds
shall be liable personally on the bonds by reason of the issuance
thereof."
SECTION 4. Section 201H-124, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:
"(c)
A rental assistance contract and any subsidy of tenants' rents in
projects developed under this subpart shall be for a term not in excess of
thirty-five years and shall be approved by the [board of directors] executive
director of the corporation. Upon
that approval by the corporation, the director of finance shall be authorized
to guarantee the obligation of the corporation for the term of the rental
assistance contract or the subsidy of tenants' rents in an amount equal to the
aggregate obligation of the corporation to make assistance payments; provided
that the aggregate of all of the outstanding guarantees shall not exceed
$100,000,000. Pursuant to that
guarantee, the corporation shall make annual rental payments to the owner in
accordance with the approved rental assistance contract or to the tenants in
accordance with the approved subsidy."
SECTION 5. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 6. This Act shall take effect upon its approval.
|
INTRODUCED BY: |
_____________________________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report Title:
HHFDC; Executive Director; Board of Directors
Description:
Requires the Hawaii Housing Finance and Development Corporation to employ an Executive Director to be nominated by the Governor, subject to the advice and consent of the Senate. Transfers the duties and powers of the Board of Directors of the Hawaii Housing Finance and Development Corporation to the Executive Director. Requires the Board to advise the Executive Director.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
