HI HB1432

Adds a new third-priority category for Affordable Homeownership Revolving Fund loans: funds administered by certified nonprofit community development financial institutions (CDFIs) for development, pre-development, construction, acquisition, preservation, and substantial rehabilitation of affordable for-sale housing

Maintains existing loan priorities: first priority for projects funded by HUD, USDA Rural Development, or Treasury CDFI Fund with at least 50% of units for households at or below 80% median income; second priority for mixed-income projects with all units for households at or below 100% median income

Expands permissible uses of revolving fund moneys to include financing as matching funds for nonprofit CDFIs to mobilize philanthropic, private, or other public funding sources

Effective date set for July 1, 3000 (placeholder date indicating further legislative action needed)