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HI HR103
Resolution
Status
3/10/2023
Primary Sponsor
Chris Todd
Click for details
AI Summary
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Requests the Director of Finance to consider loans with favorable terms issued by depositaries to housing developers when evaluating the beneficial effects of using that depository for state funds.
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Defines "favorable terms" to include below-market interest rates and longer maturity periods for housing projects exclusively for owner-occupants who are Hawaii residents with no other real property ownership.
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Applies to existing selection criteria under Hawaii Revised Statutes section 38-2(d), which already requires consideration of safety, liquidity, and yield offered by depositaries.
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Requires certified copies of the resolution be transmitted to the Governor and Director of Finance upon passage.
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