HI HR184

Reaffirms the House's commitment to not allocate special purpose revenue bonds and to discourage their use in order to increase affordable housing stock in Hawaii.

Recognizes that special purpose revenue bonds divert private activity bond volume capacity that is needed to finance affordable housing, as demonstrated by 2021 financing cycle demand exceeding available bonds by a four-to-one ratio ($500 million requested versus $151 million allocated).

References Act 182 (Session Laws of Hawaii 2022), which established a moratorium on special purpose revenue bond issuance from June 30, 2022, through December 31, 2028, unless requested by the Governor, to maximize private activity bond availability for housing development.

Notes that the Hawaii Housing Finance and Development Corporation uses private activity bonds in conjunction with Low-Income Housing Tax Credits to finance rental housing for households at or below 60 percent of area median income.

Directs transmission of certified copies to the Governor, Lieutenant Governor, Director of Budget and Finance, and Executive Director of the Hawaii Housing Finance and Development Corporation.