Loading chat...
HI SB2531
Bill
Status
3/6/2018
Primary Sponsor
Michelle Kidani
Click for details
AI Summary
-
Authorizes the Department of Budget and Finance to issue special purpose revenue bonds to assist organizations in retrofitting low- and moderate-income apartment complexes with sprinkler systems, in response to the July 14, 2017 Marco Polo condominium fire.
-
Permits bonds to be issued to not-for-profit private organizations, for-profit private organizations, and public instrumentalities under Hawaii Revised Statutes chapter 39A, part IX.
-
Allows the Department to issue refunding bonds after June 30, 2023, to refinance the original bonds issued under this Act, provided federal tax-exemption requirements are met.
-
Bond issuance authorization expires on June 30, 2023.
-
Takes effect on July 1, 2050 (note: the specific dollar amount for total authorized bonds is blank in the bill text).
Legislative Description
Relating To The Issuance Of Special Purpose Revenue Bonds To Assist With Sprinkler Retrofits.
Special Purpose Revenue Bonds
Last Action
Passed Second Reading and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Choy, DeCoite, Har, Souki excused (4).
3/19/2018