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HI HB1348
Bill
Status
1/24/2013
Primary Sponsor
Mele Carroll
Click for details
AI Summary
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Authorizes the director of finance to issue general obligation bonds for deposit into the rental assistance revolving fund in fiscal years 2013-2014 and 2014-2015 (specific amounts not filled in).
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Expands the rental assistance program administered by the Hawaii Housing Finance and Development Corporation to provide monthly rental subsidies averaging $175-$250 per eligible tenant to support affordable housing development.
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Currently serves 12 projects with approximately 1,200 rental units but cannot make new commitments due to lack of available funds in the revolving fund.
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Appropriated funds shall be expended by the Hawaii Housing Finance and Development Corporation and shall not lapse until June 30, 2016, when any unencumbered moneys must lapse.
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Takes effect July 1, 2013.
Legislative Description
Appropriation; State Rental Assistance Program; General Obligation Bonds ($)
Last Action
Referred to HUS/HSG, FIN, referral sheet 7
1/28/2013