HI HB294

Requires all Department of Hawaiian Home Lands leases for "available lands" under section 203 of the Hawaiian Homes Commission Act to conform to federal securitization requirements for lending programs like Fannie Mae and Freddie Mac

Addresses the current impediment that prevents native Hawaiian homestead leaseholders from accessing federally insured mortgage financing due to non-conforming lease language

Amends the Hawaiian Homes Commission Act, 1920 by adding a new section mandating specific lease language requirements

Takes effect upon either the Secretary of the Interior's notification that the Act meets none of the criteria in 43 CFR section 48.20, or upon U.S. Congressional approval