HI SB2553

Increases the Hula Mae Multifamily Revenue Bond authorization from $3 billion to $4 billion to finance affordable rental housing statewide

Revenue bonds treated as refunding bonds under the Internal Revenue Code will not count against the $4 billion aggregate principal limit

Requires the Hawaii Housing Finance and Development Corporation (HHFDC) to submit a report to the legislature by 20 days before the 2027 regular session

Report must include HHFDC's plan to produce sufficient housing for households at 60% to 140% of area median income, explanation of financial and land efficiency, and the parcel selection process

Effective date of July 1, 2050