SB387 Summary

• Authorizes the Hawaii Housing Finance and Development Corporation (HHFDC) to develop rental housing projects for teachers employed by the Department of Education and public charter schools as part of its housing initiatives

• Allows HHFDC to contract or sponsor experimental housing projects with state or county departments and agencies to meet the needs of teachers and other government employees

• Requires the Department of Education to lease land and contract with private entities for development, management, maintenance, or revitalization of teacher housing

• Permits teacher housing project owners to rent available units to non-teacher tenants if occupancy by teachers falls below 95 percent of total units

• Appropriates unspecified funds from general revenues to the Dwelling Unit Revolving Fund for fiscal years 2019-2020 and 2020-2021, with contingency provisions allowing alternative use of funds if the Department of Education does not approve land for development by December 31, 2019