HI HB1753

Amends Section 201H-202 of Hawaii Revised Statutes to allow the Hawaii Housing and Finance Development Corporation to use rental housing revolving fund moneys for administrative expenses related to the corporation's housing finance programs, not just the fund itself.

Clarifies that conveyance taxes pursuant to Section 247-7 may be deposited into the rental housing revolving fund, along with appropriations, private contributions, loan repayments, interest, and other sources.

Maintains restriction that fund moneys cannot be used to finance day-to-day administrative expenses of projects that received fund moneys.

Addresses staffing shortages at the corporation by allowing greater flexibility in fund use to attract and retain qualified personnel for timely loan processing and closing.

Effective July 1, 2050.