HI HB417

Creates a new Housing Efficiency and Innovation Subaccount within the Rental Housing Revolving Fund to finance rental, rent-to-own, and for-sale housing projects for qualified residents

Allows the Hawaii Housing Finance and Development Corporation (HHFDC) to transfer funds between the new subaccount and the Rental Housing Revolving Fund without requiring legislative approval

Establishes funding priorities for the subaccount: projects on state/county-owned land, projects that efficiently use state funding, mixed-income projects, and projects prioritizing government employees

Expands permissible uses of the Rental Housing Revolving Fund to include equity investments and credit enhancement in addition to traditional loans

Appropriates unspecified amounts from general revenues into the Rental Housing Revolving Fund and from the new subaccount for the Hawaii Community Development Authority's 99-year leasehold project, with an effective date of July 1, 2050