Bill Text: HI HB2449 | 2020 | Regular Session | Amended
Bill Title: Relating To Affordable Housing.
Spectrum: Partisan Bill (Democrat 11-0)
Status: (Engrossed - Dead) 2020-05-21 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [HB2449 Detail]
Download: Hawaii-2020-HB2449-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2449 |
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THIRTIETH LEGISLATURE, 2020 |
H.D. 1 |
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STATE OF HAWAII |
S.D. 1 |
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A BILL FOR AN ACT
RELATING TO AFFORDABLE HOUSING.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature recognizes that Hawaii is experiencing a severe affordable housing crisis with a lack of affordable rental and sale units. Government must do all it can to support affordable housing. Hawaii must build at least twenty-two thousand affordable rental housing units by 2026.
According to the "Affordable Rental
Housing Report and Ten-Year Plan", prepared by the department of business,
economic development, and tourism (July 2018), housing demand is projected to
reach 64,693 units by 2025, with nearly seventy per cent, 43,828 units, needed
for households earning eighty per cent or less of the area median income.
The purpose of this Act is to authorize cash payments by developers made in lieu of providing the required reserved housing units in the development of residential projects for the Hawaii community development authority to be deposited into the rental housing revolving fund.
SECTION 2. Section 206E-15, Hawaii Revised Statutes, is amended to read as follows:
"§206E-15
Residential projects; cooperative agreements. (a) If
the authority deems it desirable to develop a residential project, it may enter
into an agreement with qualified persons to construct, maintain, operate, or
otherwise dispose of the residential project.
(b) The authority may transfer the housing fees collected from private residential developments for the provision of housing for residents of low- or moderate-income to the Hawaii housing finance and development corporation for the financing, development, construction, sale, lease, or rental of such housing within or without the community development districts. The fees shall be used only for projects owned by the State or owned or developed by a qualified nonprofit organization. For the purposes of this section, "nonprofit organization" means a corporation, association, or other duly chartered organization registered with the State, which organization has received charitable status under the Internal Revenue Code of 1986, as amended.
(c) Cash
payments made by developers in lieu of providing the required reserved housing
units may be deposited into the rental housing revolving fund established under
section 201H‑202."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2050.
Report Title:
HCDA; Reserved Housing; Cash-in-lieu Payments; Deposit
Description:
Authorizes cash payments made by developers in lieu of providing the required reserved housing units in the development of residential projects for the Hawaii community development authority to be deposited into the rental housing revolving fund. Effective 7/1/2050. (SD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
