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Bill > SB572

HI SB572

HI SB572
Relating To Housing.

summary

Introduced
01/17/2025
In Committee
04/25/2025
Crossed Over
03/04/2025
Passed
07/09/2025
Dead
Signed/Enacted/Adopted
07/09/2025

Introduced Session

2025 Regular Session

Bill Summary

Adds loan funds administered by certified Nonprofit Community Development Financial Institutions (CDFIs) for certain for-sale affordable housing projects to the list of loan priorities for the Affordable Homeownership Revolving Fund. Expands the use of moneys in the revolving fund to allow financing as matching funds for CDFIs to mobilize other funding sources. (CD1)

AI Summary

This bill modifies the existing Hawaii Affordable Homeownership Revolving Fund to expand its loan priorities and usage. Specifically, the bill adds a new loan priority for funds administered by certified Nonprofit Community Development Financial Institutions (CDFIs) to finance affordable for-sale housing development. The bill expands the fund's allowed uses to include financing as matching funds for CDFIs to help them mobilize additional philanthropic, private, or public funding sources. The loan priorities now include three tiers: (1) projects funded by federal housing programs with specific income-level unit reservations, (2) mixed-income affordable housing projects with units reserved for families at or below 100% of median family income, and (3) new CDFI-administered loan funds for affordable housing development. This change aims to provide more flexible financing options and support for affordable housing development in Hawaii by allowing CDFIs to leverage the revolving fund to attract additional funding and support housing projects for lower and moderate-income families.

Committee Categories

Budget and Finance, Housing and Urban Affairs

Sponsors (3)

Last Action

Act 312, on 07/09/2025 (Gov. Msg. No. 1425). (on 07/09/2025)
(1 Companion Bills)

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Document Type Source Location
State Bill Page https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=572&year=2025
SB572_HD1_TESTIMONY_FIN_03-27-25_ https://www.capitol.hawaii.gov/sessions//session2025/Testimony/SB572_HD1_TESTIMONY_FIN_03-27-25_.PDF
SB572_SD1_TESTIMONY_HSG_03-14-25_ https://www.capitol.hawaii.gov/sessions//session2025/Testimony/SB572_SD1_TESTIMONY_HSG_03-14-25_.PDF
BillText https://www.capitol.hawaii.gov/sessions/session2025/bills/SB572_CD1_.HTM
Committee Report SB572_CD1_CCR124_ https://www.capitol.hawaii.gov/sessions/session2025/CommReports/SB572_CD1_CCR124_.pdf
Committee Report SB572_HD1_HSCR1909_ https://www.capitol.hawaii.gov/sessions/session2025/CommReports/SB572_HD1_HSCR1909_.pdf
SB572_HD1_TESTIMONY_FIN_03-27-25_ https://www.capitol.hawaii.gov/sessions/session2025/Testimony/SB572_HD1_TESTIMONY_FIN_03-27-25_.PDF
BillText https://www.capitol.hawaii.gov/sessions/session2025/bills/SB572_HD1_.HTM
Committee Report SB572_HD1_HSCR1348_ https://www.capitol.hawaii.gov/sessions/session2025/CommReports/SB572_HD1_HSCR1348_.pdf
SB572_SD1_TESTIMONY_HSG_03-14-25_ https://www.capitol.hawaii.gov/sessions/session2025/Testimony/SB572_SD1_TESTIMONY_HSG_03-14-25_.PDF
BillText https://www.capitol.hawaii.gov/sessions/session2025/bills/SB572_SD1_.HTM
Committee Report SB572_SD1_SSCR760_ https://www.capitol.hawaii.gov/sessions/session2025/CommReports/SB572_SD1_SSCR760_.pdf
SB572_TESTIMONY_WAM_02-19-25_ https://www.capitol.hawaii.gov/sessions/session2025/Testimony/SB572_TESTIMONY_WAM_02-19-25_.PDF
Committee Report SB572_SSCR141_ https://www.capitol.hawaii.gov/sessions/session2025/CommReports/SB572_SSCR141_.pdf
SB572_TESTIMONY_HOU_01-30-25_ https://www.capitol.hawaii.gov/sessions/session2025/Testimony/SB572_TESTIMONY_HOU_01-30-25_.PDF
BillText https://www.capitol.hawaii.gov/sessions/session2025/bills/SB572_.HTM
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