| 47 | | - | PART I SECTION 1. The purpose of this Act is to repeal or reclassify certain non-general funds of the Hawaii public housing authority pursuant to the recommendations of the auditor in auditor report no. 21-02. PART II SECTION 2. The purpose of this part is to abolish the financial assistance for housing special fund as recommended by the auditor in auditor report no. 21-02. SECTION 3. The financial assistance for housing special fund, a special fund that was administratively established in 2001 and administered by the Hawaii public housing authority, is abolished and all unencumbered balances remaining shall lapse to the credit of the general fund. PART III SECTION 4. The purpose of this part is to abolish the HPHA administration revolving fund as recommended by the auditor in auditor report no. 21-02. SECTION 5. The HPHA administration revolving fund, administratively established in 1982 and administered by the Hawaii public housing authority, is abolished and all unencumbered balances remaining shall lapse to the credit of the general fund. PART IV SECTION 6. The legislature finds that the public housing revolving fund was established in 2006 to support the activities of the Hawaii public housing authority. Auditor report no. 21‑02 found that the fund does not meet the criteria of a revolving fund because it functions more like a special fund but continues to serve the purpose for which it was originally established. Accordingly, the auditor recommended that the fund be reclassified as a special fund. The purpose of this part is to reclassify the public housing revolving fund from a revolving fund to a special fund as recommended by the auditor in auditor report no. 21-02. SECTION 7. Section 356D-11, Hawaii Revised Statutes, is amended by amending subsection (h) to read as follows: "(h) In connection with the development of any public housing dwelling units under this chapter, the authority may also develop commercial and industrial properties and sell or lease other properties if it determines that the uses will be an integral part of the public housing development or a benefit to the community in which the properties are situated. The authority may designate any portions of the public housing development for commercial, industrial, or other use and shall have all the powers granted under this chapter with respect thereto. The authority may use any funding authorized under this chapter to implement this subsection. The net proceeds of all sales or leases, less costs to the authority, shall be deposited in the public housing [revolving] special fund established by section 356D-28." SECTION 8. Section 356D-28, Hawaii Revised Statutes, is amended to read as follows: "§356D-28 Public housing [revolving] special fund. (a) There is established the public housing [revolving] special fund to be administered by the authority. Notwithstanding section 36-21, the proceeds in the fund shall be used for long-term and other special financings of the authority and for necessary expenses in administering this chapter. (b) All moneys received and collected by the authority, not otherwise pledged, obligated, or required by law to be placed in any other special fund, shall be deposited into the public housing [revolving] special fund." PART V SECTION 9. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 10. This Act shall take effect on July 1, 2050. |
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| 47 | + | PART I SECTION 1. The purpose of this Act is to repeal or reclassify certain non-general funds of the Hawaii public housing authority pursuant to the recommendations of the auditor in auditor report no. 21-02. PART II SECTION 2. The purpose of this part is to abolish the financial assistance for housing special fund as recommended by the auditor in auditor report no. 21-02. SECTION 3. The financial assistance for housing special fund, a special fund that was administratively established in 2001 and administered by the Hawaii public housing authority, is abolished and all unencumbered balances remaining shall lapse to the credit of the general fund. PART III SECTION 4. The purpose of this part is to abolish the HPHA administration revolving fund as recommended by the auditor in auditor report no. 21-02. SECTION 5. The HPHA administration revolving fund, administratively established in 1982 and administered by the Hawaii public housing authority, is abolished and all unencumbered balances remaining shall lapse to the credit of the general fund. PART IV SECTION 6. The legislature finds that the public housing revolving fund was established in 2006 to support the activities of the Hawaii public housing authority. Auditor report no. 21‑02 found that the fund does not meet the criteria of a revolving fund because it functions more like a special fund but continues to serve the purpose for which it was originally established. Accordingly, the auditor recommended that the fund be reclassified as a special fund. The purpose of this part is to reclassify the public housing revolving fund from a revolving fund to a special fund as recommended by the auditor in auditor report no. 21-02. SECTION 7. Section 356D-11, Hawaii Revised Statutes, is amended by amending subsection (h) to read as follows: "(h) In connection with the development of any public housing dwelling units under this chapter, the authority may also develop commercial and industrial properties and sell or lease other properties if it determines that the uses will be an integral part of the public housing development or a benefit to the community in which the properties are situated. The authority may designate any portions of the public housing development for commercial, industrial, or other use and shall have all the powers granted under this chapter with respect thereto. The authority may use any funding authorized under this chapter to implement this subsection. The net proceeds of all sales or leases, less costs to the authority, shall be deposited in the public housing [revolving] special fund established by section 356D-28." SECTION 8. Section 356D-28, Hawaii Revised Statutes, is amended to read as follows: "§356D-28 Public housing [revolving] special fund. (a) There is established the public housing [revolving] special fund to be administered by the authority. Notwithstanding section 36-21, the proceeds in the fund shall be used for long-term and other special financings of the authority and for necessary expenses in administering this chapter. (b) All moneys received and collected by the authority, not otherwise pledged, obligated, or required by law to be placed in any other special fund, shall be deposited into the public housing [revolving] special fund." PART V SECTION 9. The purpose of this part is to repeal the state low-income housing revolving fund as recommended by the auditor in auditor report no. 21-02. SECTION 10. Section 356D-45, Hawaii Revised Statutes, is repealed. ["[§356D-45] State low-income housing revolving fund. There is established a revolving fund to be known as the state low-income housing revolving fund. Notwithstanding any law to the contrary, moneys received by the authority under or pursuant to this subpart, including refunds, reimbursements, rentals, fees, and charges received from tenants, shall be deposited in the state low-income housing revolving fund. Except as otherwise provided in this chapter, the state low-income housing revolving fund may be expended by the authority for any and all of the purposes of this subpart, including without prejudice to the generality of the foregoing, the expenses of management, operation, and maintenance of state low-income housing projects, including but not limited to: (1) The cost of insurance, a proportionate share of the administrative expenses of the authority, and the cost of repairs, equipment, and improvement; (2) The acquisition, clearance, and improvement of property; (3) The construction and reconstruction of building sites; (4) The construction, reconstruction, repair, remodeling, extension, equipment, and furnishing of any state low-income housing project; (5) Administration and other expenses; (6) The payment of rentals; and (7) The development and administration of any state low-income housing project."] SECTION 11. All unencumbered balances remaining in the state low-income housing revolving fund repealed by section 10 of this Act shall lapse to the credit of the general fund. PART VI SECTION 12. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 13. This Act shall take effect on July 1, 2021. INTRODUCED BY: _____________________________ |
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