HI SB696

Establishes a county infrastructure development revolving loan fund administered by the director of finance to provide no-interest loans to counties for transit-oriented affordable housing infrastructure projects.

Fund receives appropriations from the legislature, private contributions, loan repayments, federal funds, and other sources.

Permitted loan uses include planning, design, land acquisition, and infrastructure development for sewer, roads, drainage, bridges, water systems, and related utilities under county responsibility.

Director of finance may allocate a portion of fund moneys for administrative expenses related to fund administration, but not for day-to-day project expenses.

Department of budget and finance must submit annual reports to the legislature describing funded projects and efforts to develop transit-oriented affordable housing infrastructure.