REPORT TITLE: 
Rental Housing


DESCRIPTION:
Authorizes the issuance of general obligation bonds and makes an
appropriation to the rental housing trust fund to encourage the
development and availability of low-income rental housing
throughout the State.  (SB2598 HD1)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        2598
THE SENATE                              S.B. NO.           S.D. 2
TWENTIETH LEGISLATURE, 2000                                H.D. 1
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:

 1      SECTION 1.  The purpose of this Act is to authorize the
 
 2 issuance of general obligation bonds and to make an appropriation
 
 3 to the rental housing trust fund to encourage the development and
 
 4 availability of low-income rental housing throughout the State.
 
 5      SECTION 2.  The director of finance is authorized to issue
 
 6 general obligation bonds in the sum of $1 or so much thereof as
 
 7 may be necessary and the same sum or so much thereof as may be
 
 8 necessary is appropriated for fiscal year 2000-2001 to be paid
 
 9 into the rental housing trust fund created in section 201G-432,
 
10 Hawaii Revised Statutes.  The appropriation authorized in this
 
11 section shall not lapse at the end of the fiscal year for which
 
12 the appropriation is made; provided that any appropriation that
 
13 is unencumbered as of June 30, 2003, shall lapse as of that date.
 
14      The sum appropriated shall be expended by the housing and
 
15 community development corporation of Hawaii for the purpose of
 
16 this Act.
 
17      SECTION 3.  This Act shall take effect on July 1, 2000.