HI HB321

Amends Section 201H-202, Hawaii Revised Statutes, to modify income eligibility requirements for rental housing revolving fund loans and grants.

Lowers the income threshold for mixed-income rental projects from 140 percent to 120 percent of the median family income to qualify for funding from the revolving fund.

Maintains existing priority funding for projects with low-income housing tax credits or federal HUD/USDA funding that serve households at or below 80 percent of median family income.

Takes effect on January 1, 2024.