HB1246 Summary

• Authorizes the Hawaii Housing Finance and Development Corporation (HHFDC) to issue bonds for financing infrastructure development for housing projects and regional state infrastructure projects under section 201H-191.5.

• Expands bond security provisions to include income and revenues derived from infrastructure financed from bond proceeds, in addition to housing project revenues.

• Adds bond proceeds from infrastructure financing as a revenue source for regional state infrastructure subaccounts, alongside county loan repayments, legislative appropriations, federal grants, private investments, and voluntary contributions.

• Appropriates funds to the Dwelling Unit Revolving Fund for fiscal years 2023-2024 and 2024-2025, and authorizes issuance of general obligation bonds (specific dollar amounts left blank in bill text).

• Requires the HHFDC to report to the Legislature no later than twenty days before the 2026 regular session regarding housing units generated by infrastructure projects; effective July 1, 2050.