HI SB2787

Expands the Rental Housing Revolving Fund to authorize loans or grants for individuals purchasing rental units, in addition to existing uses for housing development and preservation.

Eligible buyers must have incomes between 61% and 140% of the median family income to qualify for purchase assistance.

Amends Section 201H-204, Hawaii Revised Statutes, by adding a fifth category of eligible fund activities.

Department of Hawaiian Home Lands currently uses the fund for housing projects; expansion aims to help both native Hawaiians and middle-class families purchase homes.

Takes effect upon approval, with amendments protected from repeal when the underlying section is reenacted on June 30, 2030, per Act 159 (2025).