HI SB2421

Authorizes the Director of Finance to issue $800,000,000 in general obligation bonds for affordable housing development, distributed as $300,000,000 to the Dwelling Unit Revolving Fund (including $100,000,000 for transit-oriented development infrastructure), $400,000,000 to the Rental Housing Revolving Fund, and $100,000,000 to the Rental Assistance Revolving Fund.

Authorizes $100,000,000 in bonds for completion of the Mayor Wright housing development project, with units reserved for residents earning 30-60% of area median income.

Authorizes $50,000,000 in bonds for constructing homeless shelters and transitional housing centers statewide, convertible to low-income rental units when no longer needed, for residents earning 0-60% of area median income.

Authorizes $50,000,000 in bonds for constructing condominiums or tiny homes on Hawaiian home lands for eligible homesteaders.

Increases the conveyance tax allocation to the rental housing revolving fund from 50% to 60% and removes the $38,000,000 statutory cap; allows conveyance tax and county surcharge revenues to be used for bond repayment.