Bill Text: HI SB2228 | 2022 | Regular Session | Amended

Hawaii Senate Bill 2228 (Prior Session Legislation)

Bill Title: Relating To The Hawaii Housing Finance And Development Corporation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-02-14 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB2228 Detail]

Download: Hawaii-2022-SB2228-Amended.html

THE SENATE	S.B. NO.	2228
THIRTY-FIRST LEGISLATURE, 2022		S.D. 1
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. (a) The Hawaii housing finance and development corporation shall commission a study of the application of the taxable mortgage securities program under chapter 201H, part III, subpart D, Hawaii Revised Statutes, to the ALOHA homes program.

(b) The Hawaii housing finance and development corporation shall submit a report of its findings and recommendations, including any proposed legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2023.

(c) For the purposes of this Act, "ALOHA homes program" shall have the same meaning as in Act 167, Session Laws of Hawaii 2019.

SECTION 2. The Hawaii housing finance and development corporation shall issue taxable limited obligation mortgage revenue bonds to finance the implementation and development of the ALOHA homes program and other housing projects created for the purpose of meeting the State's affordable rental housing goals pursuant to Act 127, Session Laws of Hawaii 2016.

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $200,000 or so much thereof as may be necessary for fiscal year 2022-2023 for a study on the application of the taxable mortgage securities program to the ALOHA homes program.

The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2022.

Report Title:

ALOHA Homes Program; Study; Hawaii Housing Finance and Development Corporation; Appropriation

Description:

Directs the Hawaii Housing Finance and Development Corporation to study the application of the taxable mortgage securities program to the ALOHA home program. Also directs the Hawaii Housing Finance and Development Corporation to issue taxable limited obligation mortgage revenue bonds to finance the ALOHA homes program and other housing programs. Makes an appropriation. (SD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.