HI SB1106

Establishes a Family Self-Sufficiency Program requiring the Hawaii Public Housing Authority to set aside 250 dwelling units and provide matching funds to tenants participating in the program to assist with purchasing homes.

Requires participating tenants to pay 30% of income as rent, with the difference between tenant payment and minimum rent ($250/month) deposited into individual trust accounts; the authority matches deposits dollar-for-dollar upon lease termination.

Imposes a maximum 5-year rental period for program participants (with possible 24-month extension), except for tenants age 62 and older or with disabilities, and requires participants to maintain financial literacy program participation.

Allows former tenants to receive housing choice vouchers valid for up to 10 years (extendable 5 more years) to assist with home purchases or mortgages, and requires them to repay the authority's share of net property appreciation after 10 years if they sell.

Appropriates $1.5 million for fiscal years 2017-2018 and 2018-2019, with $1.38 million for matching trust account funds and $120,000 to establish a program management position.