Hawaii SB40 allows the Hawaii housing finance and development corporation to secure a line of credit up to $300,000,000 to meet federal tax law.
Hawaii SB40 authorizes the Hawaii housing finance and development corporation to secure a line of credit or other instrument of indebtedness, up to $300,000,000, during the fiscal biennium starting July 1, 2025, and ending June 30, 2027. This measure aims to meet the requirements of federal tax law for the bond volume cap recycling program under Hawaii Revised Statutes. The act will take effect on July 1, 2025.
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