HI HB2345

Authorizes the State to acquire fee simple interest, leases, or other interests in land for developing affordable housing with priority given to communities with schools experiencing teacher shortages.

Permits the State to offer sellers or lessors benefits including reduction or waiver of school impact fees, sales taxes under HRS chapter 237, transfer taxes under HRS chapter 247, exemptions from certain statutes and ordinances for housing developments under HRS chapter 201H, and loan guaranties up to $5,000,000 for affordable housing construction.

Requires the total value of benefits offered to sellers or lessors not exceed the land's value or lease value, and mandates the Department of Education publish a needs assessment before any land development.

Appropriates funds for fiscal year 2022-2023 to the School Facilities Authority for land purchase, fair market appraisal reports, and landscape and public safety maintenance until a developer is selected.

Takes effect July 1, 2050, except appropriation sections (3, 4, and 5) which take effect July 1, 2022.