HI SB152

Authorizes the Department of Hawaiian Home Lands (DHHL) to use funds in the Dwelling Unit Revolving Fund as collateral for loans guaranteed by the U.S. Department of Housing and Urban Development under section 184A of the Housing and Community Development Act of 1992, subject to approval by the Hawaii Housing Finance and Development Corporation.

Amends section 201H-191 of the Hawaii Revised Statutes to add new subsection (c) allowing DHHL to pledge the revolving fund as collateral for developing residential homestead lots and housing units, notwithstanding existing provisions of the Hawaiian Homes Commission Act of 1920.

Appropriates $75,000,000 from general revenues of the State for fiscal year 2025-2026 and the same amount for fiscal year 2026-2027 to be deposited into the Dwelling Unit Revolving Fund.

Appropriates $75,000,000 from the Dwelling Unit Revolving Fund for fiscal year 2025-2026 and the same amount for fiscal year 2026-2027 for DHHL to use as collateral for HUD-guaranteed loans to develop residential homestead lots and housing units.

Takes effect on July 1, 2025.