HI HB1764

Amends Section 201H-202 of Hawaii Revised Statutes to reorganize funding priorities for the Rental Housing Revolving Fund.

Establishes state, county, and non-profit owned housing projects obliged to reinvest surplus revenue into housing as the highest priority (Priority 1) for fund allocation.

Makes low-income housing credit projects and federally-funded projects with at least 50% of units for households at or below 80% of median family income the second priority (Priority 2), with at least 5% for extremely low-income households.

Designates mixed-income rental projects with all units for households at or below 140% of median family income as the third priority (Priority 3) for fund distribution.

Takes effect upon approval.