Bill Text: HI HB1224 | 2024 | Regular Session | Introduced

Hawaii House Bill 1224

Introduced

Bill Title: Relating To Housing.

Spectrum: Strong Partisan Bill (Democrat 10-1)

Status: (Introduced) 2023-12-11 - Carried over to 2024 Regular Session. [HB1224 Detail]

Download: Hawaii-2024-HB1224-Introduced.html

HOUSE OF REPRESENTATIVES	H.B. NO.	1224
THIRTY-SECOND LEGISLATURE, 2023
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-122, Hawaii Revised Statutes, is amended by amending the definition of "eligible project" to read as follows:

""Eligible project" means a rental housing project that:

(1) Is financed by the corporation pursuant to subpart B or D, or that the corporation determines will require rental assistance to make it financially feasible;

(2) Is subject to a regulatory agreement with the corporation;

(3) Maintains in perpetuity at least [~~twenty~~] fifty per cent of its units for eligible tenants; and

(4) Meets other qualifications as established by rules adopted by the corporation.

Notwithstanding any provision to the contrary, "eligible project" may also include a rental housing project that is financed by the corporation pursuant to subpart A."

SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect upon its approval.

INTRODUCED BY:	_____________________________

Report Title:

HHFDC; Rental Assistance Program; Reserve Percentage

Description:

Requires rental housing projects to maintain, in perpetuity, 50% of the project's units for certain low-income tenants in order to be eligible for the Hawaii Housing Finance and Development Corporation's rental assistance program.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.