HI HB1114

Abolishes the Financial Assistance for Housing Special Fund, administratively established in 2001 and administered by the Hawaii Public Housing Authority, with all unencumbered balances lapsing to the general fund.

Abolishes the HPHA Administration Revolving Fund, administratively established in 1982 and administered by the Hawaii Public Housing Authority, with all unencumbered balances lapsing to the general fund.

Reclassifies the Public Housing Revolving Fund from a revolving fund to a special fund, as recommended by Auditor Report No. 21-02, because the fund functions more like a special fund than a revolving fund.

Amends Hawaii Revised Statutes sections 356D-11 and 356D-28 to replace references to the "public housing revolving fund" with "public housing special fund."

Takes effect on July 1, 2050.