HI SB1169

Authorizes the Hawaii Housing Finance and Development Corporation (HHFDC) to establish a five-year community land trust equity pilot program providing lines of credit to community land trusts for acquiring, rehabilitating, renovating, or constructing housing for households earning up to 140% of county area median income.

Requires HHFDC to submit interim reports on the pilot program to the legislature no later than twenty days before the 2026, 2027, 2028, and 2029 regular sessions, and a final report with findings and recommendations no later than twenty days before the 2030 regular session.

Defines "community land trust" as a nonprofit organization that acquires land for long-term ground leases, transfers structural improvements to lessees, maintains open corporate membership, retains right of first purchase, and maintains a board of directors with specific composition requirements.

Appropriates $5,000,000 from the Dwelling Unit Revolving Fund for each of fiscal years 2025-2026 and 2026-2027 to establish the pilot program.

Pilot program ceases to exist on June 30, 2030, and the Act takes effect on July 1, 2025.