HI SB744

Establishes the Condominium Loan Program within the Hawaii Green Infrastructure Authority to provide qualified condominium associations with low-cost financing or refinancing for maintenance and repairs including fire safety, pipes, roofs, and other qualified projects.

Creates the Condominium Loan Loss Reserves Program to incentivize financial institutions to offer competitive rates and terms to condominium associations by establishing reserve accounts funded by the state to cover loan losses.

Establishes the Condominium Loan Revolving Fund to receive loan repayments, interest payments, legislative appropriations, and investment earnings to support both loan programs.

Requires the Hawaii Green Infrastructure Authority to submit annual reports to the Legislature beginning in 2027 detailing program progress, loan data, and fund balance; also requires participating financial institutions to submit annual reports on outstanding loans and borrower information.

Appropriates unspecified sums from general revenues and the condominium loan revolving fund for fiscal years 2025-2026 and 2026-2027 to establish the programs; effective July 1, 2050.