Bill > SB156

This bill aims to preserve affordable housing in Hawaii by establishing a right of first refusal for tenants, local governments, affordable housing nonprofits, and community land trusts when certain low-income housing properties are set to be sold. The legislation requires owners of eligible affordable housing properties (specifically those that have received low-income housing tax credits) to provide at least twelve months' notice before the property no longer qualifies for tax credits, and to notify the executive director, local county council member, housing nonprofits, and tenants of the potential sale. During a forty-five-day period after notification, the owner is prohibited from accepting offers from parties other than eligible parties. If the owner receives a bona fide offer from a non-eligible party, eligible parties have sixty days to submit a matched agreement of sale, with tenants receiving priority over other eligible parties. The bill includes specific requirements for notification, including property details and owner contact information, and establishes potential penalties for non-compliance. The legislature's findings highlight the importance of preventing displacement of working families and preserving affordable housing communities as thousands of subsidized housing units are scheduled to have their formal commitments expire in the coming years.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=156&year=2026