HI HB1490

Creates a transit-oriented development revolving loan fund administered by the director of finance, funded by legislative appropriations, private contributions, loan repayments, and federal sources.

Provides no-interest loans for public-private partnerships to finance housing, infrastructure (sewer, water, roads, broadband), and related costs for transit-oriented development projects located within one-half mile of a rail transit station.

Authorizes the department to guarantee loans made by lenders to developers for transit-oriented projects that include housing, with operating loan terms capped at 10 years and capital improvement loans at 20 years.

Limits the total principal amount of guaranteed loans outstanding at any time to $8,500,000.

Requires the department to submit annual reports to the legislature describing funded projects and efforts to achieve transit-oriented development, effective July 1, 2015.