HI SR179

Reaffirms the Senate's commitment to not allocate special purpose revenue bonds and discourage their use to prioritize affordable housing development in Hawaii.

Recognizes that private activity bonds issued by the Hawaii Housing Finance and Development Corporation are critical for financing affordable rental housing projects for households at or below 60% of area median income.

Notes that during the 2021 financing cycle, developers requested over $500 million in private activity bonds for nearly 2,700 affordable housing units, but the state could only allocate $151 million for 750 units due to volume cap constraints.

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

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.