HHFDC; RHRF; Mixed-Income Subaccount
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
Authorizes the Rental Housing Revolving Fund to be used to provide any and all forms of financing for the development, pre‑development, construction, acquisition, preservation, and substantial rehabilitation of rental housing units. Requires the Hawaii Housing Finance and Development Corporation to give preference to certain projects with perpetual affordability commitments, that are revenue neutral, and to applicants with a demonstrated history of early repayment to the RHRF. Authorizes HHFDC to use moneys in the RHRF that have been reserved or awarded by HHFDC for specific projects but have not yet been encumbered to fund other rental housing projects subject to certain conditions. Authorizes HHFDC to secure a line of credit or other instrument of indebtedness to provide liquidity for the RHRF under certain conditions. Repeals 6/30/2030. (CD1)
Bill text
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Document of record
- Version
- SB2060 .PDF file
- Published
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Sponsors
Official sponsors from legislative records.
5 on record
Primary sponsor
Cosponsors
Herbert M. "Tim" Richards III
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