HI HB357

Creates a county infrastructure development revolving loan fund administered by the director of finance, funded through legislative appropriations, private contributions, loan repayments, federal funds, and other sources.

Provides no-interest loans to counties for pre-development and development of infrastructure projects that support transit-oriented development, particularly those involving affordable housing.

Permits fund use for planning, design, land acquisition, options, agreements of sale, and other infrastructure-related activities, with priority given to projects that increase regional or collector system infrastructure capacity.

Requires the department of finance to submit annual reports to the legislature beginning with the 2012 session describing funded projects and infrastructure development efforts.

Appropriates unspecified funds for fiscal years 2011-2012 and 2012-2013, with the act taking effect July 1, 2011.