S.B. 874 Summary

• Adds seven new exemptions to Hawaii's school impact fee requirements under section 302A-1603, Hawaii Revised Statutes

• Exempts affordable housing developments meeting specific criteria: 80% of units affordable for 15 years to households earning up to 100% area median income with HUD-set rental limits

• Exempts developments built under Hawaii housing and finance development corporation programs pursuant to chapter 201H, including affordable rental and for-sale developments

• Exempts developments receiving federal, state, or county funding such as from rental housing revolving funds or low-income housing tax credits, and those on federally, state, or county-owned land

• Exempts owner-occupant housing restricted to Hawaii residents owning no other property and developments utilizing HUD funding

• Becomes effective July 1, 2050, with amendments preserved when section 302A-1603 is reenacted on July 1, 2024