Hawaii House Bill HB2019

Hawaii 2022 Regular Session

• Introduced: 1/26/22
• Refer: 1/28/22
• Refer: 2/1/22

Caption

Relating To Bonds.

Impact

A significant element of HB2019 is the emphasis on housing-related projects, which means that a substantial portion of the state's bond ceiling will be dedicated to increasing or maintaining affordable housing. The bill redefines the process counties must follow to receive their bond allocations, emphasizing the need for counties to pass specific resolutions and prioritize projects that benefit the state. This centralization aims to streamline the financing process for housing and drive more resources toward affordable housing initiatives.

Summary

House Bill 2019, introduced during the Thirty-first Legislature of Hawaii, addresses the allocation of state bonds, specifically focusing on private activity bonds. The bill mandates that the state's annual ceiling of these bonds be allocated entirely for housing-related projects, reflecting the legislature's commitment to ensuring affordable housing access. This allocation will benefit counties that opt to utilize part of their ceiling for housing developments and provides a framework for how these allocations should be reported and managed moving forward.

Contention

Some notable points of contention arise from the shift in how counties manage their bond allocations. The removal of certain authorizations for counties to request additional allocations has raised concerns among local governments that may feel restricted by these changes. Additionally, while prioritizing projects that assign allocations back to the state may streamline funding, it could lead to tensions between counties that have existing private bond issuance programs and those seeking to rely on state resources. Overall, these changes could impact how local jurisdictions respond to their specific housing needs.