H.B. 817 Summary

• Establishes a rent reporting for credit pilot program within the Hawaii Housing Finance and Development Corporation that allows tenants to voluntarily have their rent payments reported to consumer reporting agencies to build credit.

• Requires the corporation to contract with a third-party administrator by October 1, 2023, and recruit no more than 10 landlords and at least 100 tenants by October 15, 2023, prioritizing low-income tenants (not exceeding 60% of area median income) and underrepresented populations.

• Participant landlords must agree to participate for at least 14 months (ending no later than April 1, 2026), not charge tenants for participation, and report only rent payment information (not fees) for tenants who elect to participate.

• Participant tenants must complete a financial education course before having their rent payments reported and may voluntarily cease participation at any time, though they cannot resume after withdrawal.

• Pilot program sunsets June 30, 2027; requires a comprehensive report to the governor and legislature by 2028 covering participant numbers, demographics, costs, program challenges, and credit impacts, with appropriations for fiscal years 2023-2024 and 2024-2025.