HI HB2638

Requires Hawaii public housing authority to establish trust accounts for tenants renting dwelling units in state low-income housing projects, with tenants paying a percentage of income as rent and authority depositing the difference between tenant payment and minimum rent into the account.

Upon voluntary vacancy, authority shall match deposited amounts dollar-for-dollar and release all trust account funds to tenant within three months, with tenant required to spend funds on housing-related purchases; tenants evicted for cause forfeit matching funds.

Terminates tenancy of all remaining household members when the last original household member leaves the unit, except minor children born to or adopted by original head/co-head may remain until age 21 (or 23 if full-time student).

Authorizes issuance of general obligation bonds and appropriates unspecified sums for fiscal year 2016-2017 for capital improvements, repair and maintenance of state low-income housing, trust account matching funds, and staff positions to manage the trust accounts.

Effective July 1, 2050.