THE SENATE

S.B. NO.

12

TWENTY-NINTH LEGISLATURE, 2017

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO HOUSING.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Section 201H-202, Hawaii Revised Statutes, is amended by amending subsection (e) to read as follows:

     "(e)  Moneys available in the fund shall be used for the purpose of providing, in whole or in part, loans or grants for rental housing projects in the following order of priority:

     (1)  Projects or units in projects that are allocated low income housing credits pursuant to the state housing credit ceiling under section 42(h) of the Internal Revenue Code of 1986, as amended, or projects or units in projects that are funded by programs of the United States Department of Housing and Urban Development and United States Department of Agriculture Rural Development wherein:

         (A)  At least fifty per cent of the available units are for persons and families with incomes at or below [eighty] sixty per cent of the median family income of which at least [five] ten per cent of the available units are for persons and families with incomes at or below thirty per cent of the median family income; and

         (B)  The remaining units are for persons and families with incomes at or below [one hundred] eighty per cent of the median family income;

          provided that the corporation may establish rules to ensure full occupancy of fund projects; and

     (2)  Mixed-income rental projects or units in a mixed income rental project wherein all of the available units are for persons and families with incomes at or below one hundred [forty] per cent of the median family income."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

_____________________________

 

 

 

 

Report Title:

Rental Housing Revolving Fund

 

Description:

Amends the household income level and unit availability eligibility requirements for the provision of low-income housing and mixed-income rental project loans and grants made from the Rental Housing Revolving Fund.

 

 

 

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