HI HB2424

Increases the maximum loan term for direct loans administered by the Department of Hawaiian Home Lands from 30 years to 40 years under Section 215 of the Hawaiian Homes Commission Act, 1920.

Aligns the department's loan terms with the U.S. Department of Agriculture's Section 502 Direct Loan Program for very-low-income households, which offers a 38-year loan term.

Applies to loans for dwelling repairs, farm development, aquaculture operations, and mercantile establishment development for Hawaiian Homes Commission Act beneficiaries.

Takes effect upon either the Secretary of the Interior's notification that the Act meets none of the criteria in 43 CFR section 48.20, or the date Congress approves the legislation.

Preserves the amendments even if Act 107 (Session Laws of Hawaii 2000) or Act 85 (Session Laws of Hawaii 2008) take effect with U.S. Congressional consent.