HOUSE OF REPRESENTATIVES

H.B. NO.

2448

TWENTY-SEVENTH LEGISLATURE, 2014

H.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.  Section 201H-72, Hawaii Revised Statutes, is amended to read as follows:

     "[[]§201H-72[]]  Issuance of bonds for the development of infrastructure.  Without limiting section 201H-71, the corporation, pursuant to and in accordance with this subpart, is [hereby] authorized to issue bonds for the purpose of financing the development of infrastructure on land owned by the corporation[.] or on land owned by an eligible developer as defined in section 201H-32 whose housing project approval by a state or county agency requires the construction of affordable housing."

     SECTION 2.  Revenue bonds are hereby authorized to be issued by the Hawaii housing finance and development corporation pursuant to part III, chapter 39, Hawaii Revised Statutes, and subpart A of part III of chapter 201H, Hawaii Revised Statutes, in an aggregate principal amount not to exceed $125,000,000, at such times and in such amounts as it deems advisable for the purpose of financing the development of infrastructure as provided under section 201H-72, Hawaii Revised Statutes.

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.


 


 

Report Title:

Hawaii Housing Finance and Development Corporation; Infrastructure Bonds

 

Description:

Allows the Hawaii Housing Finance and Development Corporation to issue bonds to eligible developers for infrastructure on land owned by the eligible developer for the construction of affordable housing.  Authorizes revenue bonds to be issued by the Hawaii Housing Finance and Development Corporation.  (HB2448 HD1)

 

 

 

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