Bill > SB152

This bill amends Hawaii law to allow the Department of Hawaiian Home Lands (DHHL) to use funds from the Dwelling Unit Revolving Fund (DURF) as collateral when seeking loans guaranteed by the U.S. Department of Housing and Urban Development (HUD) under Section 184A of the Housing and Community Development Act. Currently, DHHL is limited in its ability to pledge collateral for loans, with existing laws only allowing the department to pledge loan account receivables. The bill specifically authorizes DHHL to use DURF funds as collateral when borrowing to develop residential homestead lots and housing units, subject to approval from the Hawaii Housing Finance and Development Corporation. The bill also appropriates $75 million for each of the fiscal years 2025-2026 and 2026-2027 to support this initiative, with funds to be deposited into the DURF and used to help DHHL secure loans for developing housing for Native Hawaiians. This change is intended to further the constitutional mandate of supporting Hawaiian homesteading and the rehabilitation of the Hawaiian race by providing more financial flexibility for housing development.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=152&year=2026