Informing the Legislature that on July 1, 2025, the Governor signed the following bill into law: HB529 HD1 SD1 CD1 (ACT 253).

This bill (HB529, enacted as Act 253) authorizes the Hawaii Housing Finance and Development Corporation to use revenue bonds up to $300 million during the 2025-2027 fiscal biennium. It directly affects the corporation by allowing it to meet federal tax law requirements for bond volume cap recycling under Hawaii Revised Statutes. The key provision permits the corporation to utilize revenue bonds when obtaining credit lines or other debt instruments, specifically to comply with federal tax regulations. This change becomes effective upon the governor's approval (July 1, 2025). The bill does not create new funding but adjusts how existing financing mechanisms may be used.