S.B. 2133 Summary

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

• Expands the definition of bond-backed revenues to include income from infrastructure for housing projects and federal grants made in aid of such infrastructure.

• Exempts bonds issued by HHFDC for improvements by assessments and their interest from state, county, and municipal taxation, except for inheritance, transfer, and estate taxes.

• Adds bond proceeds from regional state infrastructure projects as a revenue source for regional state infrastructure subaccounts.

• Authorizes assessment of infrastructure costs against housing and mixed-use transit-oriented development projects that specially benefit from improvements, and allows subaccount revenues to repay regional infrastructure project bond holders.

• Effective July 1, 2024.