HI HB357

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

Provides no-interest loans to counties for pre-development or development of infrastructure projects supporting transit-oriented development, particularly affordable housing projects.

Eligible infrastructure uses include planning, design, land acquisition, sewers, roads, drainage systems, bridges, water systems, and other county-owned utilities, with priority given to regional or collector system projects.

Director of finance may use fund amounts for administrative expenses but may not use fund moneys for day-to-day project administration costs.

Requires annual reports to the legislature beginning in 2012 describing funded projects and infrastructure development efforts; effective July 1, 2011.