HI SB1026

Establishes the County Infrastructure Development Revolving Loan Fund to be administered by the corporation to provide no-interest loans to counties for infrastructure improvements supporting affordable housing development.

Fund sources include federal government moneys, private contributions, loan repayments, and legislative appropriations.

Permitted uses include planning, design, land acquisition, options, agreements of sale, and other infrastructure-related services for sewer, roads, drainage, bridges, water systems, and related utilities.

Defines "affordable housing" as housing affordable to households with incomes at or below 140 percent of the median family income as determined by the U.S. Department of Housing and Urban Development.

Corporation may use a legislature-authorized amount from the fund for administrative expenses, and must submit annual reports to the legislature describing funded projects and affordable housing development efforts.