S.B. 498 Summary

• Requires state agencies to include an affordable housing component in all development or redevelopment plans for properties along the rail transit corridor in Honolulu.

• Mandates that development and redevelopment plans reserve a minimum percentage of housing units (percentage amount left blank in bill) for residents earning at or below 80% of area median income.

• Allows the Office of Planning to grant exemptions from the affordable housing requirement if housing is determined to be infeasible or undesirable on a specific property.

• Establishes the Office of Planning as the lead agency to approve all state agencies' development and redevelopment plans for parcels along the rail transit corridor.

• Effective date: July 1, 2050.