Report Title:

Housing; Income Limits

Description:

Redefines affordable housing income limits for the purposes of chapter 201H, Hawaii Revised Statutes.

HOUSE OF REPRESENTATIVES	H.B. NO.	2548
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO HOUSING.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Section 201H-57, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  For the purposes of this section:

     "Affordable housing" means housing that is affordable to households with incomes at or below [one hundred forty] eighty per cent of the [median family] area median income as determined by the United States Department of Housing and Urban Development.

     "Qualified nonprofit organization" means any private entity that is organized and operated:

     (1)  In accordance with section 501(c)(3) of the Internal Revenue Code of 1986, as amended; and

     (2)  For the purpose of providing affordable housing through long-term, renewable, and transferable leases."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

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

INTRODUCED BY:

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