THE SENATE	S.B. NO.	2265
TWENTY-SEVENTH LEGISLATURE, 2014		S.D. 1
STATE OF HAWAII		H.D. 2

A BILL FOR AN ACT

RELATING TO HOUSING.

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

     SECTION 1.  The legislature finds that, according to the Hawaii public housing authority annual report for fiscal year 2012, the Hawaii public housing authority's public housing stock has extensive and growing capital needs, currently estimated at approximately $462,000,000, that continue to be underfunded by the United States Department of Housing and Urban Development.

     The purpose of this Act is to appropriate funds to improve the existing public housing stock and increase the public housing unit supplies in the State.

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $         or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2014-2015 for the purpose of improving the existing public housing stock and increasing the supply of public housing units in the State.

     The sum appropriated shall be expended by the Hawaii public housing authority for the purposes of this Act.

     SECTION 3.  The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2016, shall lapse as of that date.

     SECTION 4.  This Act shall take effect on July 1, 2050.

Report Title:

Hawaii Public Housing Authority; Appropriation; General Obligation Bonds

Description:

Authorizes the issuance of general obligation bonds to improve the existing public housing stock and increase the supply of public housing units in the State.  (SB2265 HD2)

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