HI HB762

Amends Section 201H-203, Hawaii Revised Statutes, to restrict eligibility for Rental Housing Revolving Fund (RHRF) funding to two categories of applicants

Limits eligible applicants to organizations required to use all financial surplus to develop additional housing in Hawaii

Government agencies remain eligible to apply for RHRF funds

Removes previous eligibility for general nonprofit and for-profit organizations, limited liability companies, and partnerships that do not meet the surplus reinvestment requirement

Eligible applicants must still qualify in accordance with rules adopted by the Hawaii Housing Finance and Development Corporation under chapter 91