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HI SB2060
Bill
Status
Engrossed
3/5/2026
Primary Sponsor
Stanley Chang
Click for details
AI Summary
- Expands the Rental Housing Revolving Fund to provide "any and all forms of financing" including loans, equity investments, credit enhancement, and collateral for rental housing development, not just loans
- Creates a formal definition for "mixed-income rental project" as developments primarily serving households at or below 140% of area median income
- Authorizes the Hawaii Housing Finance and Development Corporation to transfer moneys between the fund and its subaccounts with approval from the Director of Finance and a legislative concurrent resolution
- Adds project preference criteria including perpetual affordability commitments and applicants with demonstrated history of early repayment to the fund
- Allows up to $100,000,000 transfer from the Rental Housing Revolving Fund to the mixed-income subaccount for fiscal year 2026-2027, and makes the mixed-income subaccount permanent by removing the June 30, 2030 sunset date
Legislative Description
Relating To The Rental Housing Revolving Fund.
Department of Budget and Finance
Last Action
Referred to HSG, FIN, referral sheet 15
3/10/2026
Committee Referrals
Housing3/10/2026
Ways and Means2/11/2026
Housing1/22/2026
Full Bill Text
No bill text available