Bill > HB833

This bill establishes a five-year Community Land Trust Equity Pilot Program administered by the Hawaii Housing Finance and Development Corporation (HHFDC) to support community land trusts (CLTs), which are nonprofit organizations that acquire land and lease it to homeowners while maintaining long-term affordability. The program will provide a low-cost line of credit to CLTs for acquiring, rehabilitating, renovating, or constructing housing for qualified residents, with priority given to applications requiring the least state funding per unit. The bill defines a CLT as a nonprofit organization with specific governance and affordability requirements, including retaining an option to repurchase improvements at a formula-based price that ensures ongoing affordability for households earning up to 140% of the county area median income. The HHFDC must submit interim reports to the Legislature before the 2026, 2027, 2028, and 2029 legislative sessions, and a final report before the 2030 session, with the pilot program set to expire on June 30, 2030. Funds will be appropriated from the Dwelling Unit Revolving Fund, and the bill recognizes CLTs as an effective tool for creating permanent affordable housing, increasing community control, and helping low to moderate-income households build generational wealth. The bill is notable for its delayed effective date of July 1, 2050, which is unusual and may be a placeholder or drafting error.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=833&year=2025