HI HB1132

Authorizes the director of finance to issue general obligation bonds for deposit into the rental housing revolving fund established under Hawaii Revised Statutes section 201H-202 (bond amount left blank in text).

Appropriates funds from the rental housing revolving fund for fiscal year 2021-2022 to the Hawaii housing finance and development corporation for construction of phase I of the School street elderly housing project on Hawaii public housing authority property on Oahu (specific appropriation amount left blank in text).

Phase I project will include 250 units of senior affordable housing for kupuna with incomes at 60% of area median income or below, part of a planned 800-unit redevelopment across three phases.

Project is located near bus transit, Lanakila multipurpose senior center, medical facilities, and shopping, and is expected to generate jobs and economic benefits.

Takes effect on July 1, 2050.