Hawaii SB40 allows the Hawaii Housing Finance and Development Corporation to secure a line of credit up to $300,000,000 for federal tax law.
Hawaii SB40 authorizes the Hawaii Housing Finance and Development Corporation to obtain a line of credit or other debt instrument, up to $300,000,000, for the fiscal biennium starting July 1, 2025, and ending June 30, 2027. This funding is intended to comply with federal tax law requirements for the bond volume cap recycling program under Hawaii Revised Statutes. The act will take effect on July 1, 2025.
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