HI HB1367

Transfers four parcels of University of Hawaii land identified by tax map keys (1)9-1-16:120, (1)9-1-16:179, (1)9-1-16:222, and (1)9-1-16:223 to the Hawaii Housing Finance and Development Corporation for affordable housing development.

Hawaii Housing Finance and Development Corporation shall develop infrastructure on transferred lands and manage them to generate income for University of Hawaii-West Oahu, including repayment of outstanding debt.

All proceeds from sale, rental, lease, or development of the transferred lands must be deposited into the University of Hawaii-West Oahu special fund.

Amends HRS Section 304A-2166 to establish that net proceeds from the transferred parcels shall be used solely for repayment of University of Hawaii-West Oahu debt and the university's benefit.

Land conveyance shall not be executed until July 1, 2016, to allow time for budgetary adjustments, rule changes, and transition actions.