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Finance committee backs setting housing-homelessness transfer at no less than $9 million
Summary
Committee members voted to forward Bill 50, which replaces a percentage-based transfer of residential tier 2 tax revenue with a fixed floor of $9 million for the county’s housing and homelessness fund. Sponsors said the change provides planning stability; some members suggested language to account for low-revenue years.
The finance committee voted to forward Bill 50 to the full council with a favorable recommendation. The bill would change the county code to allocate no less than $9,000,000 from the residential tier 2 property-tax class to the housing and homelessness fund, replacing a prior requirement that the transfer equal 75% of that class’s revenue.
Councilmember Kogewata, lead sponsor, said the change is intended to give the Office of Housing and Community Development (OHCD) a predictable baseline so grantees and the department can plan multi-year programs. Councilmember Reynaldo Inaba and others said the fixed floor avoids the volatility that can come from a percentage-based approach tied to property-tax revenue.
Members debated language and contingencies. Councilmember James Kimball suggested including a phrase such as “the lesser of the funds collected or $9,000,000” to guard against a scenario in which the tax class collects less than $9 million in a year. Members in Hilo said certainty is important for OHCD planning and that the council will revisit the allocation when the section sunsets on June 30, 2027.
The committee also adopted a provision that any unspent balance at fiscal year-end remain in the housing and homelessness fund, allowing recipients to carry unobligated balances forward for the same purpose.
The motion to forward Bill 50 carried unanimously; the clerk reported nine members in favor. Members said the change does not prevent the council or administration from appropriating more than $9 million in a single year if circumstances warrant.
