HI HB2412

Allows the dwelling unit revolving fund to temporarily reimburse the general fund for principal payments on general obligation bonds issued for housing projects, effective July 1, 2012 through June 30, 2014.

Appropriates $8,000,000 from the dwelling unit revolving fund in fiscal year 2012-2013 to reimburse the general fund for general obligation bond principal.

Appropriates $8,000,000 from general revenues in fiscal year 2012-2013 to the Hawaii public housing authority for repair and maintenance of public housing units.

Permits the unencumbered and unexpended balance of the revolving fund on July 1, 2012 and July 1, 2013 to be used for bond principal reimbursement.

Sunsets on June 30, 2014, with Section 201H-191 of Hawaii Revised Statutes reverting to its prior form on that date.