HI HB321

Amends Hawaii Revised Statutes Section 201H-202(e) to lower the income threshold for mixed-income rental projects eligible for rental housing revolving fund loans or grants from 140% to 120% of median family income.

Maintains existing priority funding for projects with low-income housing credits under Internal Revenue Code Section 42(h) or funded by HUD and USDA Rural Development programs, requiring at least 50% of units for persons at or below 80% of median family income.

Applies the 120% median family income cap to all available units in mixed-income rental projects in the second funding priority tier.

Takes effect January 1, 2024.