Bill Text: HI SB2734 | 2016 | Regular Session | Introduced
Bill Title: Dwelling Unit Revolving Fund; General Obligation Bonds; Appropriation ($)
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced - Dead) 2016-02-18 - Report adopted; Passed Second Reading and referred to WAM. [SB2734 Detail]
Download: Hawaii-2016-SB2734-Introduced.html
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THE SENATE |
S.B. NO. |
2734 |
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TWENTY-EIGHTH LEGISLATURE, 2016 |
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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:
SECTION 1. The dwelling unit revolving fund was established pursuant to Act 105, Session Laws of Hawaii 1970, for the acquisition of real property; development and construction of residential, commercial, and industrial properties; interim and permanent loans to developers; and for the general purposes of the housing development program.
The purpose of this Act is to authorize the issuance of general obligation bonds and appropriation of funds for deposit into the dwelling unit revolving fund for the development of infrastructure and improvements of on-site and off-site development.
SECTION 2. The director of finance is authorized to issue general obligation bonds in the sum of $ 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 2016-2017 to be deposited into the dwelling unit revolving fund established pursuant to section 201H-191, Hawaii Revised Statutes.
SECTION 3. There is appropriated out of the dwelling unit revolving fund the sum of $ or so much thereof as may be necessary for fiscal year 2016-2017 for the development of infrastructure and improvements of on-site and off-site development.
The sum appropriated shall be expended by the Hawaii housing finance and development corporation for the purposes of this Act.
SECTION 4. The appropriation made for the capital improvement project authorized by 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.
SECTION 5. This Act shall take effect on July 1, 2016.
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INTRODUCED BY: |
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Report Title:
Dwelling Unit Revolving Fund; General Obligation Bonds; Appropriation
Description:
Authorizes the issuance of general obligation bonds and the appropriation of funds for deposit into the dwelling unit revolving fund for the development of infrastructure and improvements of on-site and off-site development.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
