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HI HCR97
Concurrent Resolution
Status
3/10/2023
Primary Sponsor
Chris Todd
Click for details
AI Summary
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Request that the Director of Finance expressly consider loans with favorable terms issued by depositaries to housing developers when evaluating beneficial effects to the State.
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"Favorable terms" is defined as loans with below-market interest rates and longer maturity terms for housing projects exclusively available to owner-occupants who are State residents and own no other real property.
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Add housing development lending as an evaluation factor alongside existing requirements under Hawaii Revised Statutes section 38-2(d) regarding safety, liquidity, and yield on deposits.
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Transmit certified copies of the concurrent resolution to the Governor and Director of Finance.
Legislative Description
Requesting The Director Of Finance To Expressly Consider The Amount Of Loans With Favorable Terms That A Depository Has Issued To Developers Of Housing For Hawaii Residents When Evaluating The Beneficial Effects To The State Of Using That Depository, In Addition To The Existing Requirements To Consider Factors Such As Safety, Liquidity, And Yield Offered On Deposits.
Department of Budget and Finance
Last Action
Referred to HSG, FIN, referral sheet 20
3/15/2023