HI SB1229

Extends the Dwelling Unit Revolving Fund Equity Pilot Program from June 30, 2028 to June 30, 2030, adding two additional years for the program to operate

Expands permitted uses of the dwelling unit revolving fund to include purchasing equity in for-sale housing development projects and interim primary or secondary financing

Changes the pilot program from optional ("may") to mandatory ("shall") for the Hawaii Housing Finance and Development Corporation to establish

Requires preference be given to for-sale housing development projects developed under government assistance programs approved by HHFDC

Eligible buyers must be bona fide Hawaii residents who do not hold a majority interest in residential property, receive no gift funds, and work in shortage professions including healthcare, education, law enforcement, corrections, and agricultural field work