Hawaii 2024 Regular Session

Hawaii Senate Bill SB2036 Compare Versions

Only one version of the bill is available at this time.

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1	1	THE SENATE S.B. NO. 2036 THIRTY-SECOND LEGISLATURE, 2024 STATE OF HAWAII A BILL FOR AN ACT RELATING TO HOUSING SAVINGS ACCOUNTS. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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3	3	THE SENATE S.B. NO. 2036
4	4	THIRTY-SECOND LEGISLATURE, 2024
5	5	STATE OF HAWAII
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7	7	THE SENATE
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9	9	S.B. NO.
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11	11	2036
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13	13	THIRTY-SECOND LEGISLATURE, 2024
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17	17	STATE OF HAWAII
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31	31	A BILL FOR AN ACT
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37	37	RELATING TO HOUSING SAVINGS ACCOUNTS.
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43	43	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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47	47	SECTION 1. (a) The legislative reference bureau shall propose a system for the establishment and implementation of a housing savings account program for the State, and shall evaluate and report on the viability of the proposed system. The legislative reference bureau may contract for services to: (1) Develop the proposed system and program; and (2) Conduct a study, as required under this Act. (b) The report on the proposed housing savings account system shall provide for: (1) Contributions by an employee; and (2) Contributions by an employer matched to the contributions of an employee. (c) The proposed housing savings account system shall be designed to authorize the use of contributed funds for the following purposes: (1) Downpayments; (2) Mortgage payments; (3) Rent; (4) Security deposits; and (5) Any other lawful purpose. (d) In conducting the study, the bureau or the contracted entity shall consider the following: (1) Problems or barriers to the implementation of a housing savings account system; (2) Attitudes and concerns among residents and employees in the State regarding a housing savings account system; (3) Components required for a housing savings account to be feasible in the State; (4) The feasibility of including independent contractors in the housing savings account system; (5) A mechanism that exempts moneys in the housing savings account from an individual's total assets as calculated under title 24 Code of Federal Regulations section 5.609 in order to prevent those in public housing from being disqualified from certain federal programs; and (6) Any other matters deemed necessary or relevant to the study. (e) The legislative reference bureau shall submit a report of its proposal, findings, and recommendations, including any proposed legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2026. SECTION 2. In accordance with section 9 of article VII of the Hawaii State Constitution and sections 37-91 and 37-93, Hawaii Revised Statutes, the legislature has determined that the appropriations contained in Act 164, Regular Session of 2023, and this Act will cause the state general fund expenditure ceiling for fiscal year 2024-2025 to be exceeded by $ or per cent. This current declaration takes into account general fund appropriations authorized for fiscal year 2024-2025 in Act 164, Regular Session of 2023, and this Act only. The reasons for exceeding the general fund expenditure ceiling are that: (1) The appropriation made in this Act is necessary to serve the public interest; and (2) The appropriation made in this Act meets the needs addressed by this Act. SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for the legislative reference bureau to contract for services to: (1) Develop a proposed system for the establishment and implementation of a housing savings account program for the State; and (2) Conduct the study, as required under this Act. The sum appropriated shall be expended by the legislative reference bureau for the purposes of this Act. SECTION 4. This Act shall take effect on July 1, 2024. INTRODUCED BY: _____________________________
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49	49	SECTION 1. (a) The legislative reference bureau shall propose a system for the establishment and implementation of a housing savings account program for the State, and shall evaluate and report on the viability of the proposed system. The legislative reference bureau may contract for services to:
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51	51	(1) Develop the proposed system and program; and
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53	53	(2) Conduct a study,
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55	55	as required under this Act.
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57	57	(b) The report on the proposed housing savings account system shall provide for:
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59	59	(1) Contributions by an employee; and
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61	61	(2) Contributions by an employer matched to the contributions of an employee.
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63	63	(c) The proposed housing savings account system shall be designed to authorize the use of contributed funds for the following purposes:
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65	65	(1) Downpayments;
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67	67	(2) Mortgage payments;
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69	69	(3) Rent;
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71	71	(4) Security deposits; and
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73	73	(5) Any other lawful purpose.
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75	75	(d) In conducting the study, the bureau or the contracted entity shall consider the following:
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77	77	(1) Problems or barriers to the implementation of a housing savings account system;
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79	79	(2) Attitudes and concerns among residents and employees in the State regarding a housing savings account system;
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81	81	(3) Components required for a housing savings account to be feasible in the State;
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83	83	(4) The feasibility of including independent contractors in the housing savings account system;
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85	85	(5) A mechanism that exempts moneys in the housing savings account from an individual's total assets as calculated under title 24 Code of Federal Regulations section 5.609 in order to prevent those in public housing from being disqualified from certain federal programs; and
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87	87	(6) Any other matters deemed necessary or relevant to the study.
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89	89	(e) The legislative reference bureau shall submit a report of its proposal, findings, and recommendations, including any proposed legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2026.
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91	91	SECTION 2. In accordance with section 9 of article VII of the Hawaii State Constitution and sections 37-91 and 37-93, Hawaii Revised Statutes, the legislature has determined that the appropriations contained in Act 164, Regular Session of 2023, and this Act will cause the state general fund expenditure ceiling for fiscal year 2024-2025 to be exceeded by $ or per cent. This current declaration takes into account general fund appropriations authorized for fiscal year 2024-2025 in Act 164, Regular Session of 2023, and this Act only. The reasons for exceeding the general fund expenditure ceiling are that:
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93	93	(1) The appropriation made in this Act is necessary to serve the public interest; and
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95	95	(2) The appropriation made in this Act meets the needs addressed by this Act.
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97	97	SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for the legislative reference bureau to contract for services to:
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99	99	(1) Develop a proposed system for the establishment and implementation of a housing savings account program for the State; and
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101	101	(2) Conduct the study,
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103	103	as required under this Act.
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105	105	The sum appropriated shall be expended by the legislative reference bureau for the purposes of this Act.
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107	107	SECTION 4. This Act shall take effect on July 1, 2024.
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111	111	INTRODUCED BY: _____________________________
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113	113	INTRODUCED BY:
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115	115	_____________________________
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121	121	Report Title: LRB; Housing Savings Account System; Study; Contract; Expenditure Ceiling; Appropriation Description: Directs the Legislative Reference Bureau to propose and conduct a study of a housing savings account system. Authorizes the Legislative Reference Bureau to contract for services to develop the proposed system and program and conduct a study. Makes an appropriation. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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129	129	Report Title:
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131	131	LRB; Housing Savings Account System; Study; Contract; Expenditure Ceiling; Appropriation
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135	135	Description:
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137	137	Directs the Legislative Reference Bureau to propose and conduct a study of a housing savings account system. Authorizes the Legislative Reference Bureau to contract for services to develop the proposed system and program and conduct a study. Makes an appropriation.
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145	145	The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.