HI HB1351

Increases the State's liability limit from $100,000,000 to $500,000,000 for moneys borrowed by the Department of Hawaiian Home Lands (DHHL) or for loans made to lessees that are guaranteed by the department

Addresses challenges faced by Hawaiian home lands lessees who cannot qualify for mortgages due to rising interest rates and increased construction costs following the 2023 Maui wildfires and global inflation

Responds to the anticipated increase in housing units resulting from Act 279 (2022), which appropriated $600,000,000 to reduce the waitlist of over 28,000 applicants for Hawaiian home lands

Takes effect upon either the Secretary of the Interior's notification that no congressional approval is needed, or upon congressional approval becoming law