HI SB2834

Authorizes the Hawaii Housing Finance and Development Corporation to establish regional state infrastructure subaccounts within the dwelling unit revolving fund upon request by counties for housing and mixed-use transit-oriented development projects.

Eligible funding sources for subaccounts include loan repayments from special improvement districts and tax increment financing districts, legislative appropriations, federal grants, private investor investments, and voluntary contributions.

Permits subaccount revenues to fund grants to state agencies and loans to counties or private developers for infrastructure improvements including regional sewer, water, drainage, roads, telecommunications, and broadband that increase capacity rather than provide maintenance.

Prohibits grants or loans for maintenance or repair costs unless construction simultaneously increases infrastructure carrying capacity, and excludes sole funding of mass transit or electrical utilities.

Takes effect July 1, 2016.