HB 1833 Summary

• Appropriates unspecified funds from general revenues into the Rental Housing Revolving Fund for fiscal year 2024-2025 to support affordable rental housing development.

• Allocates unspecified funds from the Revolving Fund for mixed-income rental projects targeting households with incomes between 60% and 120% of the area median income (increased from the previous 100% cap).

• Prioritizes projects on state or county-owned land or with perpetual affordability commitments for funding consideration.

• Appropriates unspecified funds to hire an unspecified number of finance specialist positions at the Hawaii Housing Finance and Development Corporation to administer the program.

• Declares that the appropriations will exceed the state general fund expenditure ceiling for fiscal year 2024-2025, with specific dollar amounts and percentages left blank in the bill text.