Bill > HB762

This bill modifies the eligibility requirements for the Rental Housing Revolving Fund by narrowing the pool of potential applicants. Specifically, the bill limits eligible applicants to two types of entities: (1) organizations that are legally required to reinvest all of their financial surplus into developing additional housing within the State of Hawaii, and (2) government agencies. The bill removes previous language that allowed for a broader range of applicants, such as nonprofit organizations, for-profit organizations, limited liability companies, and partnerships. Additionally, the bill maintains the existing requirement that all eligible applicants must be qualified in accordance with rules established by the housing corporation under Hawaii's administrative procedure law. The changes aim to more tightly control and focus the allocation of housing development funds by ensuring that only entities with a direct commitment to expanding housing resources can access the Rental Housing Revolving Fund.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=762&year=2026