HI SB874

Amends Section 302A-1603, Hawaii Revised Statutes to add seven new exemptions from school impact fee assessments

Exempts affordable housing developments that maintain 80 percent of units affordable for 15 years at rents not exceeding HUD rental limits

Exempts developments constructed under the affordable rental housing development program or for-sale programs administered by the Hawaii Housing and Finance Development Corporation under chapter 201H

Exempts developments receiving federal, state, or county funds including rental housing revolving fund or low-income housing tax credits

Exempts owner-occupied housing limited to Hawaii residents who own no other real property and exempts developments on federally, state, or county-owned land

Effective July 1, 2050, with amendments preserved when section 302A-1603 is reenacted on July 1, 2024