HI SB2540

Establishes a rental deposit loan program within the Department of Human Services to help low-income individuals, families, elderly persons, and homeless individuals obtain permanent rental housing.

Program provides loans to cover security deposits and first month's rent payments for eligible tenants who lack financial resources for these upfront costs.

Department shall contract with nonprofit organizations to administer the program, with preference given to organizations with experience managing affordable housing or rental deposit loan programs.

Eligible participants include individuals and families in substandard housing, emergency shelters, transitional housing, or temporarily living in cars or parks who can afford monthly rent but lack funds for deposits and first month's rent.

Nonprofit organizations may use up to 10 percent of grant funds for program administration costs and must maintain revolving loan funds in separate bank accounts, provide quarterly reports to the department, and coordinate with homeless services providers.