HI SB1632

Requires the "Yes In My Back Yard" working group under the Department of Business, Economic Development, and Tourism to submit a comprehensive action plan by 20 days before the 2026 legislative session to establish a local housing market in Hawaii.

Action plan must include definitions and development plans for six types of community land trusts: condominium land trusts in transit-oriented developments, master-planned community land trusts, rent-to-own housing land trusts, family inheritance land trusts, agricultural community land trusts, and manufactured housing land trusts.

Plan shall identify incentives for land trust development including land use and building exemptions, increased density and height limits, tax credits and exemptions, and state-backed loan guarantees.

Plan must analyze constitutional and legal issues regarding limiting land trust sales to qualified state residents only and may recommend statutory amendments to inheritance laws, residential dwelling authorizations, and other legislative changes.

Appropriates unspecified funds from general revenues for fiscal years 2025-2026 and 2026-2027 to the Department of Business, Economic Development, and Tourism for the comprehensive action plan development, with an effective date of July 1, 2050.