Bill > HB1408

This bill allows the Department of Hawaiian Home Lands (DHHL) to use the Dwelling Unit Revolving Fund (DURF) as collateral when seeking a loan guaranteed by the U.S. Department of Housing and Urban Development (HUD) under section 184A of the Housing and Community Development Act, which is specifically aimed at developing residential homestead lots and housing units for Native Hawaiians. Currently, DHHL is limited to pledging only loan account receivables as collateral, but this bill would expand those options with the approval of the Hawaii Housing Finance and Development Corporation. The bill is grounded in the Hawaii State Constitution's commitment to supporting Hawaiian home lands and the rehabilitation of the Hawaiian race, and includes appropriations of an unspecified amount for fiscal years 2025-2026 and 2026-2027 to be deposited into the DURF and used for loan collateral purposes. By allowing DHHL to use the DURF as loan collateral, the bill aims to provide more financial flexibility for developing housing for Native Hawaiians while maintaining the constitutional spirit of supporting Hawaiian homesteading.

Budget and Finance, Housing and Urban Affairs, Justice

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1408&year=2026