HI HB1010

Establishes a mixed-income subaccount within the Rental Housing Revolving Fund to provide dedicated financing for rental housing projects serving households earning 60% to 140% of area median income

Mixed-income subaccount loans prioritize projects with diverse affordability ranges, projects on State or county-owned land, and projects with loans projected to be fully repaid within 40 years

Nonprofit projects receive preference over for-profit or government projects when equally ranked in the application process for mixed-income subaccount funds

Authorizes the Director of Finance to transfer an unspecified amount from the Rental Housing Revolving Fund to the new mixed-income subaccount for fiscal year 2025-2026

Amends loan forgiveness provisions so the Hawaii Housing Finance and Development Corporation can only forgive loans when foreclosing on real property pledged as security, rather than on the project itself