Bill > SB1169

This bill establishes a five-year Community Land Trust (CLT) Equity Pilot Program through the Hawaii Housing Finance and Development Corporation to provide low-cost lines of credit for nonprofit community land trusts to acquire, rehabilitate, renovate, or construct affordable housing. The program targets low- to moderate-income households with incomes up to 140% of the county area median income. A community land trust is defined as a nonprofit organization that acquires land for long-term ground leases, transfers improvements to lessees, maintains open corporate membership, retains first purchase options to keep housing affordable, and has a governance board with balanced representation from lessees and community members. The corporation is required to submit interim reports to the Legislature before the regular sessions of 2026-2029 and a final comprehensive report before the 2030 session, with the pilot program set to expire on June 30, 2030. The Legislature appropriates $5,000,000 from the Dwelling Unit Revolving Fund to support the program, recognizing community land trusts as an effective method for creating permanent affordable housing, preventing displacement, and helping local families build generational wealth.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1169&year=2026