HI HB2333

Establishes the accessory dwelling unit (ADU) housing development program administered by the Hawaii Community Development Authority to provide matching subsidies for homeowners constructing ADUs compliant with county requirements.

Provides one-to-one matching funds up to a maximum amount per ADU (specific dollar amount left blank in bill text).

Creates a special fund for the ADU program to receive legislative appropriations, public and private contributions, interest earnings, and other revenue sources.

Exempts rental income from general excise tax for the first three years that an ADU funded under this program is rented, provided tax savings are passed to renters without rent increases.

Appropriates unspecified sums from general revenues for fiscal year 2024-2025 to fund the special fund and provide matching subsidies; takes effect July 1, 2024.