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HI HB679

Bill

Official Source

Status

Engrossed

3/7/2023

Primary Sponsor

Troy Hashimoto

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Delays encumbrance and expenditure of a $300,000,000 general fund appropriation to the Hawaii Housing Finance and Development Corporation's Rental Housing Revolving Fund from fiscal year 2022-2023 until or after July 1, 2023.

  • Requires the funds to not be expended or deposited prior to July 1, 2023, with any unencumbered balances lapsing to the general fund on June 30, 2024.

  • Aims to help Hawaii meet federal maintenance of effort (MOE) requirements under the American Rescue Plan Act of 2021 to avoid potential recovery of approximately $412,300,000 in federal ESSER program III funds.

  • Removes large general fund appropriations from fiscal year 2022-2023 MOE calculations by delaying their expenditure beyond that fiscal year.

  • Takes effect on July 1, 2050.

Legislative Description

Relating To State Funds.

Appropriation ($)

Last Action

The committee on WAM deferred the measure.

3/30/2023

Committee Referrals

Ways and Means3/20/2023
Housing3/10/2023
Finance2/15/2023
Housing1/30/2023

Full Bill Text

No bill text available