HI HB2472

Establishes the self-help homeownership housing revolving fund administered by the Hawaii Housing Finance and Development Corporation to provide loans and technical assistance grants to nonprofit housing organizations developing affordable homeownership projects.

Prioritizes fund awards to projects funded by HUD, USDA Rural Development, and Treasury community development financial institutions that reserve at least 50 percent of units for households at or below 80 percent of median family income.

Allows fund moneys to support planning, design, land acquisition, pre-development, construction, and substantial rehabilitation of affordable for-sale housing units where participants contribute labor as "sweat equity."

Permits the corporation to establish interest rates and fees on loans, with revenues deposited back into the revolving fund, and requires annual reporting to the legislature on funded projects.

Appropriates funds from general revenues for fiscal year 2020-2021 to establish the revolving fund, with effective date of July 1, 2025.