HI HB278

Authorizes the Hawaii Housing Finance and Development Corporation to establish county affordable housing subaccounts within the Dwelling Unit Revolving Fund upon county request.

Requires matching loans and contributions of up to $5,000,000 from both the county and the dwelling unit revolving fund to establish each county affordable housing subaccount.

Mandates that county affordable housing subaccounts be leveraged with private loans, contributions, and moneys from other sources.

Allows the corporation to set aside an amount from each county subaccount for administrative expenses, subject to legislative authorization.

Effective July 1, 2060.