HI SB861

Directs the Legislative Reference Bureau to propose a housing savings account system for Hawaii and evaluate its viability, with authority to contract for development and study services

System shall include employee contributions and employer-matched contributions for use toward downpayments, mortgage payments, rent, security deposits, or other lawful purposes

Study must address implementation barriers, resident and employee attitudes, feasibility of including independent contractors, and mechanisms to exempt account funds from asset calculations under federal regulations to protect public housing residents from program disqualification

Legislative Reference Bureau must submit a report with findings, recommendations, and any proposed legislation to the legislature no later than twenty days before the 2025 regular session

Appropriates unspecified general revenue funds for fiscal years 2023-2024 and 2024-2025 to support the contract services and study, effective July 1, 2050