HI SB871

Requires the Hawaii Housing Finance and Development Corporation to employ an executive director nominated by the governor and appointed by the governor with Senate advice and consent, serving at the governor's pleasure.

Executive director salary capped at the salary of the director of business, economic development, and tourism; executive assistant salary capped at 90 percent of the executive director's salary.

Transfers duties and powers of the board of directors to the executive director; changes the board's role to advisory only.

Changes references in statute from "board of directors" approval to "executive director" approval for rental assistance contracts and rent subsidy programs.

Effective upon approval.