HI SB572

Adds a new priority category (priority 3) for loan funds administered by certified nonprofit community development financial institutions (CDFIs) to finance development, construction, acquisition, preservation, and substantial rehabilitation of affordable for-sale housing.

Expands eligible uses of Affordable Homeownership Revolving Fund moneys to include financing as matching funds for CDFIs to mobilize philanthropic, private, or other public funding sources.

Maintains existing priority categories for projects funded by HUD, USDA Rural Development, and Treasury Community Development Financial Institutions Fund, and mixed-income affordable for-sale housing projects.

Takes effect upon approval.