HI HB294

Requires all land leases conveying "available lands" under section 203 of the Hawaiian Homes Commission Act to conform to federally insured lending program requirements for securitization (such as Fannie Mae or Freddie Mac).

Addresses the impediment that current lease documents fail to meet federal lending standards, which restricts Native Hawaiian homestead leaseholders' access to funding sources.

Modernizes lease language to enable federally insured lending programs to securitize Hawaiian Homes Commission Act homestead leases.

Takes effect on the date the Secretary of the Interior notifies Congress that the Act meets none of the criteria in 43 CFR section 48.20, or on the date Congress approves the Act into law, whichever comes first.