HI SB1283

Establishes the Emergency Home Loan Assistance Revolving Fund to be administered by the Hawaii Housing Finance and Development Corporation to provide emergency mortgage assistance to homeowners in default or at risk of default.

Loans issued from the fund cannot exceed three regular monthly payments of the individual's home loan, and must be repaid in full within 90 days after the home loan is satisfied or the property is sold, whichever comes first.

Fund revenues may include legislative appropriations, private contributions, loan repayments, other returns, and moneys from other sources.

Requires the Hawaii Housing Finance and Development Corporation to adopt administrative rules and submit annual reports to the legislature no later than 20 days before each regular legislative session.

Appropriates unspecified sums from general revenues for fiscal years 2025-2026 and 2026-2027 to establish the fund and issue loans; takes effect July 1, 2025.