RELATING TO HOUSING.
Sponsored By: Stanley Chang (Democratic)
In Committee
Summary
Repeals statutory requirements for certain housing projects to be eligible for loans from the Rental Housing Revolving Fund. Repeals certain statutory provisions for grants to developers for rental units eligible to be financed in part or in whole by the RHRF. Repeals statutory language requiring the Hawaii Housing Finance and Development Corporation to establish an application process for RHRF allocation that prioritized projects meeting certain requirements. Renames the Rental Housing Revolving Fund to the State Housing Revolving Fund (SHRF). Clarifies eligible applicants of the SHRF. Authorizes the HHFDC to use funds from the SHRF for broader housing projects. Establishes the Housing Efficiency and Innovation Subaccount within the SHRF. Authorizes the HHFDC to transfer funds between the Housing Efficiency and Innovation Subaccount and the RHRF without legislative approval. Amends the criteria and eligibility requirements for applicant developers seeking assistance from the SHRF. Requires the HHDFC to maximize the amount of housing built that utilizes loans from the SHRF by prioritizing projects with the shortest projected loan repayment terms that produce the highest number of units, per dollar, per year. Repeals all other priorities and preferences for projects utilizing the RHRF. Establishes a working group to revise the State's Qualified Allocation Plan, the prioritization of the SHRF, and the terms of loans. Requires a report to the Legislature. Allocates ten per cent of conveyance tax collections to the DURF. Removes the annual cap on conveyance taxes paid into the SHRF.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Stanley Chang
Democratic • Senate
Cosponsors
Henry J.C. Aquino
Democratic • Senate
Kurt Fevella
Republican • Senate
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Re-Referred to HOU/WLA, WAM/JDC.
1/21/2026SenateCarried over to 2026 Regular Session.
12/8/2025Referred to HOU/WTL, WAM/JDC.
1/17/2025SenateIntroduced and passed First Reading.
1/15/2025SenatePending Introduction.
1/13/2025Senate
Bill Text
Original
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