H.B. 2475 - Summary

• Authorizes the Director of Finance to issue general obligation bonds in the amount of $25,100,000 for fiscal year 2018-2019 to fund the initial phase of developing and constructing 904 permanent supportive housing units for chronically homeless individuals and families.

• Appropriates bond proceeds to the Hawaii Housing Finance and Development Corporation to develop permanent supportive housing that integrates affordable rental housing with community-based supportive services for individuals with serious disabilities, mental illness, substance use disorders, and chronic health conditions.

• Requires the Hawaii Housing Finance and Development Corporation to partner with other appropriate government entities to ensure sufficient and appropriate services are included in the permanent supportive housing development.

• Specifies that appropriated funds shall not lapse at the end of the fiscal biennium, except that any unencumbered funds remaining as of June 30, 2021, shall lapse on that date.

• Contains an effective date of January 1, 2050.