HI SB1145

Requires Hawaii Housing Finance and Development Corporation housing projects to include a restrictive covenant ensuring units designated as affordable housing remain affordable in perpetuity.

Adds new provision (6) prohibiting developments in special flood hazard areas as identified on current Federal Emergency Management Agency flood insurance rate maps.

Adds definition of "affordable housing" referencing section 201H-57 and clarifies definition of "government assistance program" in Section 201H-38(b).

Updates Section 201H-41(c) to require private developer housing projects comply with revised procedures including the new restrictive covenant requirement.

Effective date: July 1, 2050.