Bill > SB40

This bill authorizes the Hawaii Housing Finance and Development Corporation (HHFDC) to utilize revenue bonds for securing a line of credit or other financial instrument related to the Bond Volume Cap Recycling Program. Specifically, the bill allows HHFDC to issue up to $300,000,000 in revenue bonds during the fiscal biennium from July 1, 2025, to June 30, 2027, to comply with federal tax law requirements. The Bond Volume Cap Recycling Program is a mechanism that helps manage and maximize the allocation of tax-exempt bond financing for housing and development projects. The bill provides HHFDC with financial flexibility to support affordable housing initiatives by enabling them to secure additional funding through revenue bonds. The legislation is set to take effect on July 1, 3000 (which appears to be a typographical error and likely means July 1, 2027).

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=40&year=2026