HB1054 Summary

• Establishes a rental deposit loan program providing zero percent interest loans up to $2,500 for security deposits to individuals and families earning 80-120% of area median income, with repayment over up to 48 months.

• Appropriates $2,500,000 for fiscal years 2023-2024 and 2024-2025 to fund the rental deposit loan program administered by the Hawaii Housing Finance and Development Corporation, counties, and nonprofit organizations.

• Amends the definition of "historic property" to increase the age requirement from 50 years to 100 years old.

• Temporarily allows the Department of Land and Natural Resources to retain third-party consultants to conduct historic preservation reviews within 30 days when the department cannot complete reviews within 60 days, with provisions expiring July 1, 2028.

• Changes county legislative body approval of housing development projects from mandatory ("shall approve") to permissive ("may approve"), while maintaining the 45-day deemed approval timeline if no action is taken.