O. Dwelling Unit Revolving Fund

Effective July 1, 2006, functions transferred to Hawaii housing finance and development administration. L 2005, c 196, §§21 to 26.

§201G-411 Dwelling unit revolving fund. [Section effective until June 30, 2006. For section effective July 1, 2006, see below.] There is created a dwelling unit revolving fund. The funds appropriated for the purpose of the dwelling unit revolving fund and all moneys received or collected by the corporation for the purpose of the revolving fund shall be deposited in the revolving fund. The proceeds in the revolving fund shall be used to reimburse the general fund to pay the interest on general obligation bonds issued for the purposes of the revolving fund, for the necessary expenses in administering subpart F, part II, and for carrying out the purposes of subpart F, part II, including but not limited to the expansion of community facilities constructed in conjunction with housing projects, permanent primary or secondary financing, and supplementing building costs, federal guarantees required for operational losses, and all things required by any federal agency in the construction and receipt of federal funds or low-income housing tax credits for housing projects. [L 1997, c 350, pt of §2; am L 1998, c 212, §41; am L 2005, c 196, §18]

§201G-411 Dwelling unit revolving fund. [Section effective July 1, 2006. For section effective until June 30, 2006, see above.] There is created a dwelling unit revolving fund. The funds appropriated for the purpose of the dwelling unit revolving fund and all moneys received or collected by the administration for the purpose of the revolving fund shall be deposited in the revolving fund. The proceeds in the revolving fund shall be used to reimburse the general fund to pay the interest on general obligation bonds issued for the purposes of the revolving fund, for the necessary expenses in administering subpart F, part II, and for carrying out the purposes of subpart F, part II, including but not limited to the expansion of community facilities constructed in conjunction with housing projects, permanent primary or secondary financing, and supplementing building costs, federal guarantees required for operational losses, and all things required by any federal agency in the construction and receipt of federal funds or low-income housing tax credits for housing projects. [L 1997, c 350, pt of §2; am L 1998, c 212, §41; am L 2005, c 196, §18; am L 2005, c 196, §§18, 26(a)]

Contingent transfer to department of budget and finance (repealed July 1, 2007). L 2005, c 196, §36.