HB1059 Summary

• Makes permanent Act 141, Session Laws of Hawaii 2009, which requires counties to issue affordable housing credits to the Department of Hawaiian Home Lands upon request.

• Makes permanent Act 98, Session Laws of Hawaii 2012, which requires counties to issue affordable housing credits for each residential unit developed by the Department of Hawaiian Home Lands.

• Removes the July 1, 2024 repeal date that was previously scheduled for both Acts, making the affordable housing credit programs permanent rather than temporary.

• Allows the Department of Hawaiian Home Lands to utilize affordable housing credits to purchase land in areas where beneficiaries are interested but the department has no existing land holdings.

• Results in reduced housing prices for homebuilders developing units on Hawaiian home lands at no cost to the State.