HI
Hawaii Senate Bill SR131

Hawaii 2023 Regular Session

Hawaii Senate Bill SR131

Introduced
3/10/23  

Caption

Requesting The Director Of Finance To Expressly Consider The Amount Of Loans With Favorable Terms That A Depository Has Issued To Developers Of Housing For Hawaii Residents When Evaluating The Beneficial Effects To The State Of Using That Depository, In Addition To The Existing Requirements To Consider Factors Such As Safety, Liquidity, And Yield Offered On Deposits.

Impact

If enacted, this resolution aims to alter the parameters under which public funds are managed, particularly concerning investments in local housing initiatives. By emphasizing the importance of loans with favorable terms, the resolution encourages financial institutions to support housing projects that are primarily available to Hawaii residents. This consideration may lead to a more favorable operating environment for developers who align with these criteria, thus potentially increasing the stock of affordable homes for residents in dire need.

Summary

Senate Resolution 131 requests the Director of Finance of Hawaii to specifically consider the volume of loans provided at favorable terms by depositaries to housing developers when evaluating their beneficial impact on the state. This resolution signifies an acknowledgment of the ongoing housing crisis in Hawaii, highlighting the urgent need for affordable housing solutions in the face of rising property values and low housing availability. It seeks to revise the criteria used by the Director to include not only the traditional factors of safety, liquidity, and yield but also the social implications of lending practices toward housing development.

Contention

While the resolution is poised to facilitate housing development, it may also result in contention regarding the interpretation of 'favorable terms.' Proponents may argue this helps tackle the housing issue, but critics could contend that it may inadequately address the need for broader housing policy reforms or unfairly favor certain developers over others. The potential for favoritism or a misallocation of public funds could inspire debate among policymakers and stakeholders in the housing and finance sectors.

Companion Bills

HI HR103

Same As Requesting The Director Of Finance To Expressly Consider The Amount Of Loans With Favorable Terms That A Depository Has Issued To Developers Of Housing For Hawaii Residents When Evaluating The Beneficial Effects To The State Of Using That Depository, In Addition To The Existing Requirements To Consider Factors Such As Safety, Liquidity, And Yield Offered On Deposits.

Previously Filed As

HI SR33

Urging The Director Of Finance To Adopt Administrative Rules To Define "beneficial Effects To The State" In Section 38-2, Hawaii Revised Statutes, To Include The Financing Of Housing.

HI SCR45

Urging The Director Of Finance To Adopt Administrative Rules To Define "beneficial Effects To The State" In Section 38-2, Hawaii Revised Statutes, To Include The Financing Of Housing.

HI HCR89

Urging The Director Of Finance To Adopt Administrative Rules To Define "beneficial Effects To The State" In Section 38-2, Hawaii Revised Statutes, To Include The Financing Of Housing.

HI SR46

Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules That Preempt The Counties From Imposing Residential Income Requirements On Housing Projects Subject To Section 201h-38, Hawaii Revised Statutes, That Are Lower Than Those Adopted Or Established By The State.

HI SCR57

Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules That Preempt The Counties From Imposing Residential Income Requirements On Housing Projects Subject To Section 201h-38, Hawaii Revised Statutes, That Are Lower Than Those Adopted Or Established By The State.

HI SB2026

Relating To Deposits Of Public Funds.

HI SB1206

Relating To Deposits Of Public Funds.

HI SR31

Urging The Hawaii Housing Finance And Development Corporation To Amend The Priority For Which Low-income Housing Tax Credits Are Allocated And Moneys In The Rental Housing Revolving Fund Are Used And To Adopt Certain Administrative Rules That Incentivize The Development Of Affordable Housing In The State.

HI SR50

Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under Any Funds Administered By The Corporation.

HI HCR85

Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under The Rental Housing Revolving Fund.

Similar Bills

HI HCR97

Requesting The Director Of Finance To Expressly Consider The Amount Of Loans With Favorable Terms That A Depository Has Issued To Developers Of Housing For Hawaii Residents When Evaluating The Beneficial Effects To The State Of Using That Depository, In Addition To The Existing Requirements To Consider Factors Such As Safety, Liquidity, And Yield Offered On Deposits.

HI HR103

Requesting The Director Of Finance To Expressly Consider The Amount Of Loans With Favorable Terms That A Depository Has Issued To Developers Of Housing For Hawaii Residents When Evaluating The Beneficial Effects To The State Of Using That Depository, In Addition To The Existing Requirements To Consider Factors Such As Safety, Liquidity, And Yield Offered On Deposits.

HI SCR129

Requesting The Director Of Finance To Expressly Consider The Amount Of Loans With Favorable Terms That A Depository Has Issued To Developers Of Housing For Hawaii Residents When Evaluating The Beneficial Effects To The State Of Using That Depository, In Addition To The Existing Requirements To Consider Factors Such As Safety, Liquidity, And Yield Offered On Deposits.

HI SR33

Urging The Director Of Finance To Adopt Administrative Rules To Define "beneficial Effects To The State" In Section 38-2, Hawaii Revised Statutes, To Include The Financing Of Housing.

HI SCR45

Urging The Director Of Finance To Adopt Administrative Rules To Define "beneficial Effects To The State" In Section 38-2, Hawaii Revised Statutes, To Include The Financing Of Housing.

HI HCR89

Urging The Director Of Finance To Adopt Administrative Rules To Define "beneficial Effects To The State" In Section 38-2, Hawaii Revised Statutes, To Include The Financing Of Housing.

MO SB835

Modifies provisions relating to financial transactions

MO SB657

Creates new provisions relating to banks that secure public funds