Bill Text: HI SB2734 | 2020 | Regular Session | Introduced

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

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2020-01-27 - Referred to HOU, JDC. [SB2734 Detail]

Download: Hawaii-2020-SB2734-Introduced.html

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THE SENATE	S.B. NO.	2734
THIRTIETH LEGISLATURE, 2020
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.  The Hawaii housing finance and development corporation shall amend its administrative rules, as appropriate and in accordance with chapter 91, Hawaii Revised Statutes, to reduce the income threshold to qualify for lower cost housing from one hundred forty per cent to one hundred per cent of the area median income by:

     (1)  Amending the definitions of "lower cost housing" and "low-moderate income" in section 15-307-2, Hawaii Administrative Rules; and

     (2)  Removing the "moderate income" income group from sections 15-307-2 and 15-307-26, Hawaii Administrative Rules.

     SECTION 2.  The Hawaii housing finance and development corporation shall submit a report to the legislature no later than twenty days prior to the convening of the 2021 regular session on the corporation's actions taken to effectuate the requirements of this Act.

     SECTION 3.  This Act shall take effect upon its approval.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

HHFDC; Administrative Rules; State Assisted Land and Housing Development Program; Lower Cost Housing; Income Groups; Qualification

 

Description:

Requires the Hawaii Housing Finance and Development Corporation to amend certain administrative rules to reduce the income threshold for qualification for lower cost housing to 100 per cent of the area median housing and remove the "moderate income" income group.

 

 

 

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