SB 3034 Summary

• Requires state agencies' development or redevelopment plans for parcels along the rail transit corridor to include housing units with at least 20% reserved for residents earning 80% or less of area median income.

• Allows the Office of Planning, in consultation with the Hawaii Housing Finance and Development Corporation, to determine that the required affordable housing level is not feasible or desible on a particular property and grant exceptions.

• Establishes the Office of Planning as lead agency to approve all state agencies' development and redevelopment plans for properties along the rail transit corridor as part of its smart growth and transit-oriented development coordination role.

• Aims to increase affordable housing inventory to meet the state goal of 22,500 affordable rental units between 2017 and 2026, while supporting rail transit ridership through denser, mixed-use developments along the corridor.

• Takes effect on July 1, 2050.