Bill > HB1432

This bill amends Hawaii's housing law to expand the loan priorities and usage of the Affordable Homeownership Revolving Fund, which supports affordable housing development. The bill adds a third loan priority for funds administered by certified nonprofit Community Development Financial Institutions (CDFIs) to finance affordable housing for low and moderate-income families. Specifically, the new priority allows CDFIs to access loans for developing, pre-developing, constructing, acquiring, preserving, and substantially rehabilitating for-sale housing units. The bill also modifies the fund's usage rules to explicitly allow financing as matching funds for CDFIs to help them mobilize additional philanthropic, private, or public funding sources. The existing law already prioritized housing projects that reserve units for families at different income levels (50-120% of median family income), and this amendment builds on that framework by creating a new pathway for nonprofit financial institutions to support affordable housing development. The bill is set to take effect on July 1, 3000 (which appears to be a placeholder date).

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1432&year=2026