HB 1633 Summary

• Amends Section 46-15.1, Hawaii Revised Statutes, to authorize counties to permit developers to make cash payments equal to 15% of gross revenue of a development project in lieu of providing required reserved housing under county affordable housing programs.

• Amends Section 206E-4, Hawaii Revised Statutes, to specify that the Hawaii Community Development Authority (HCDA) may permit cash payments of 15% of gross revenue of a development project instead of requiring developers to construct reserved housing units.

• Adds new powers to both counties and HCDA to accept these in-lieu cash payments as an alternative to on-site or off-site affordable housing construction requirements.

• Takes effect on July 1, 2022.