HOUSE OF REPRESENTATIVES	H.B. NO.	1917
TWENTY-EIGHTH LEGISLATURE, 2016
STATE OF HAWAII

A BILL FOR AN ACT

relating to the rental housing revolving fund.

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

     SECTION 1.  The legislature finds that addressing the housing crisis is a top priority for the State.  Thousands of residents are left houseless and homeless under the burden of economic downfall and high housing costs.  Despite the State's efforts to combat this crisis, homelessness continues to rise even as the national rate has fallen.  Hawaii has the highest homelessness rate per capita in the nation, with thousands of men, women, and children living in makeshift structures, on park benches, under bridges, and in encampments.

     The legislature further finds that the shortage of available funding is a challenging obstacle to overcome during the current state of emergency.  In order to take the first step on the road to permanent living conditions, the State must provide hundreds of shelter beds and housing units for homeless and houseless persons.  By removing the cap and creating a base minimum on moneys deposited into the rental housing revolving fund, the State's agencies and departments will have access to more needed funds to provide for loans or grants for rental housing units.

     The purpose of this Act is to remove the cap and create a base minimum for moneys deposited into the rental housing revolving fund to provide access to funds for the development and rehabilitation of rental housing units.

     SECTION 2.  Section 247-7, Hawaii Revised Statutes, is amended to read as follows:

     "§247-7  Disposition of taxes.  All taxes collected under this chapter shall be paid into the state treasury to the credit of the general fund of the State, to be used and expended for the purposes for which the general fund was created and exists by law; provided that of the taxes collected each fiscal year:

     (1)  Ten per cent or $6,800,000, whichever is less, shall be paid into the land conservation fund established pursuant to section 173A-5; and

     (2)  [Fifty] No less than fifty per cent [or $38,000,000, whichever is less,] shall be paid into the rental housing revolving fund established by section 201H-202."

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  Statutory material to be repealed is bracketed and stricken.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

     SECTION 4.  This Act shall take effect on July 1, 2016.

INTRODUCED BY:

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Report Title:

Housing; Homelessness; Houselessness; Rental Housing Units.

Description:

Removes the cap and creates a base minimum for moneys deposited into the rental housing revolving fund to provide access to funds for the development and rehabilitation of rental housing units.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.