Bill > HB1723

This bill allows the Hawaii Housing Finance and Development Corporation (HHFDC), with the director of finance's approval, to move money between the Rental Housing Revolving Fund and its subaccounts, including the Mixed-Income Subaccount, without needing further legislative approval, as long as the transfers align with the fund's purposes. It also expands the types of financial assistance the fund can provide beyond just loans to include any and all forms of financing, such as equity investments and credit enhancement, for rental housing development. Furthermore, the bill prioritizes projects for the Mixed-Income Subaccount that offer a range of affordability, are located on state or county land, efficiently use state funds, meet transit-supportive density requirements, have perpetual affordability commitments, and are revenue-neutral at the minimum rental price, while also giving preference to non-profit or government projects over for-profit ones if they are equally ranked. The bill also appropriates funds into and out of the Mixed-Income Subaccount for fiscal year 2026-2027 to support these expanded purposes, with certain provisions set to expire on June 30, 2030.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1723&year=2026