Bill > SB1134

This bill aims to preserve affordable housing in Hawaii by creating new requirements for landlords of properties that have received low-income housing tax credits. Specifically, the bill requires landlords to provide written notice to tenants, local government officials, affordable housing nonprofits, and community land trusts at least twelve months before the property is no longer subject to low-income housing tax credit requirements. The notice must include details about the property and the owner's intent to sell. Once notice is given, the owner is prohibited from accepting purchase offers from anyone except "eligible parties" (which include tenants, housing agencies, nonprofits, and community land trusts) for 45 days. If the owner receives a bona fide offer from a non-eligible party after this period, eligible parties have 60 days to submit a matching offer, with tenants receiving priority. The owner must either accept a matched offer or enter into good faith negotiations. The legislation is designed to prevent the displacement of working families by giving tenants and local organizations a first opportunity to purchase affordable housing properties that might otherwise be converted to market-rate housing, thereby helping to maintain community stability and access to affordable housing.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1134&year=2026