HB2019 Summary

• Allocates 50% of the annual state bond ceiling exclusively for housing-related projects, with counties required to adopt resolutions to receive their allocated percentages (Honolulu 37.55%, Hawaii 5.03%, Kauai 2.41%, Maui 5.01%).

• Simplifies the process for counties or issuers to assign their bond allocations back to the State by removing requirements for resolutions or written certificates, while eliminating their ability to request additional allocations.

• Gives priority to projects from counties that return their allocations to the State over projects from counties with their own bond issuance programs.

• Requires counties retaining their allocations to submit quarterly reports on allocation status and requires projects to first apply to their county (if it has a bond program) before applying to the State.

• Changes reversion dates from December 31 to November 1, and requires all reverted allocations to be used for housing-related projects; sunsets December 31, 2027.