Bill > HB294

This bill aims to address funding challenges for Native Hawaiian families with homestead leases by modifying the language in land leases to meet the requirements of federally insured lending programs like Fannie Mae and Freddie Mac. Specifically, the bill requires that any land lease used to convey "available lands" as defined in section 203 of the Hawaiian Homes Commission Act must now conform to the securitization standards of these federal lending programs. The legislative findings indicate that current lease documents do not meet these standards, which can impede Native Hawaiian families' ability to secure financing. The bill adds a new section to the Hawaiian Homes Commission Act mandating that land leases must align with federal lending program requirements. The act will take effect either when the Secretary of the Interior notifies Congressional Committee Chairmen that the act meets certain regulatory criteria or when the United States Congress approves the law, whichever occurs first.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=294&year=2026