SB2339 - Relating To State Finances.

7 Co-Sponsors

Allows HHFDC or a county to establish a bond recycling program authorized by federal law. Allows HHFDC or a county to secure a line of credit or other instrument of indebtedness for the bond recycling program. Allows the Department of Budget and Finance and HHFDC to enter into an agreement with a county for bond recycling. Requires a county or issuer to submit a report to the Department of Budget and Finance and HHFDC on the status or use of its portion of the volume cap that is being recycled. Requires a reserve to be maintained for the unsecured portion of debt incurred for the bond recycling program and establishes a reserve for HHFDC as a subaccount of the rental housing revolving fund.