HI SB1229

Amends Section 201H-191 of Hawaii Revised Statutes to authorize the dwelling unit revolving fund to purchase equity in for-sale housing development projects and provide interim primary or secondary financing.

Modifies Act 92 (Session Laws of Hawaii 2023) to change the dwelling unit revolving fund equity pilot program from optional ("may") to mandatory ("shall") for the Hawaii Housing Finance and Development Corporation.

Extends the dwelling unit revolving fund equity pilot program sunset date from June 30, 2028 to June 30, 2030, with interim reports required before legislative sessions in 2024, 2025, 2026, 2027, 2028, and 2029.

Requires the corporation to give preference to for-sale housing development projects developed under any government assistance program approved by the corporation.

Changes pilot program eligibility criteria from "own no other" residential property to "do not hold a majority interest in any residential" real property and specifies eligible workers include health care workers, educators, law enforcement officers, correctional facility staff, and agricultural field workers.