HI SB2278

Establishes the Teacher Home Assistance Program administered by the Hawaii Housing Finance and Development Corporation to provide housing vouchers to qualified teachers employed by the Department of Education.

Provides vouchers of up to $500 per month to full-time and half-time teachers who teach at hard-to-fill schools (including public charter schools) and commit to teach at such schools for at least five consecutive years.

Restricts voucher eligibility to teachers with household income not exceeding eighty percent of area median income, with vouchers distributed on a first-come, first-served basis.

Allows housing vouchers to be used for rent, mortgage payments on a primary residence, or down payment on residential real property (primary residence only).

Appropriates general revenues for fiscal year 2018-2019 to fund the program, effective July 1, 2050.