SB 2060 Hawaii Senate · 2026 Regular Session

RELATING TO THE RENTAL HOUSING REVOLVING FUND.

Summary

Authorizes the Rental Housing Revolving Fund to be used to provide any and all forms of financing for the development, pre‑development, construction, acquisition, preservation, and substantial rehabilitation of rental housing units. Requires the Hawaii Housing Finance and Development Corporation to give preference to certain projects with perpetual affordability commitments, that are revenue neutral, and to applicants with a demonstrated history of early repayment to the RHRF. Authorizes HHFDC to use moneys in the RHRF that have been reserved or awarded by HHFDC for specific projects but have not yet been encumbered to fund other rental housing projects subject to certain conditions. Authorizes HHFDC to secure a line of credit or other instrument of indebtedness to provide liquidity for the RHRF under certain conditions. Repeals 6/30/2030. (CD1)

Issues: ✓ Budget & Taxes

Bill status signed all 5 stages cleared

Introduction

Jan 2026

Committee Review

May 2026

Senate Passage

May 2026

House Passage

May 2026

Signed into Law

Jul 2026

Introduced Jan 14, 2026 Signed Jul 9, 2026

Maddy AI version diff · 4 comparisons

What changed between versions

SB2060_SD1 → SB2060_SD2 · 6 edits

MODERATE

This bill updates the Hawaii Housing Finance and Development Corporation's authority to manage rental housing funds by clarifying the approval process for transferring money between accounts and adding new rules for using reserved funds. The changes ensure that transfers between the main fund and subaccounts require approval from both the Director of Finance and the Legislature, while also imposing strict limits on how long reserved funds can be used for other projects before they must be returned.

Scope change

The bill expands the scope of oversight for fund transfers and introduces new requirements for the management of reserved funds, making the mixed-income subaccount permanent.

REQUIREMENT

Transferring money between the Rental Housing Revolving Fund and its subaccounts now requires approval from both the Director of Finance and the Legislature via concurrent resolution, rather than just the Director of Finance.

New rules require the Corporation to publish a list of projects receiving transferred funds and to submit quarterly reports detailing the use of reserved funds.

Reserved funds can only be used for other projects for a maximum of three years and must be fully repaid or replenished before the project's financial closing date.

The Corporation must adopt policies establishing minimum liquidity requirements to ensure funds remain available for reserved projects.

TIMELINE

The bill explicitly states that the mixed-income subaccount is permanent, whereas previous versions allowed for potential repeal.

DEFINITION

The definition of a 'mixed-income rental project' was slightly adjusted to improve clarity regarding income levels.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 6, 2026

Lower · Passed

Passed Final Reading as amended in CD 1 with none voting aye with reservations; Representative(s) Cochran, Pierick voting no (2) and none excused (0).

lower

May 6, 2026

Upper · Passed

Passed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none.

upper

May 1, 2026

Lower · Passed

Reported from Conference Committee (Conf Com. Rep. No. 128-26) as amended in (CD 1).

lower

May 1, 2026

Introduced

48 Hrs. Notice (as amended CD 1) 05-06-26.

upper

May 1, 2026

Upper · Passed

Reported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 128-26).

upper

May 1, 2026

Lower · Passed

The Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 3 Ayes: Representative(s) Evslin, Miyake, Pierick; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.

lower

May 1, 2026

Upper · Passed

The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 3 Aye(s): Senator(s) Chang, Hashimoto, Rhoads; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Apr 30, 2026

Lower · Passed

Conference Committee Meeting will reconvene on Friday 05-01-26 10:00AM in conference room 224.

lower

Apr 29, 2026

Lower · Passed

Conference Committee Meeting will reconvene on Thursday 04-30-26 10:00AM in conference room 224.

lower

Apr 28, 2026

Lower · Passed

Conference Committee Meeting will reconvene on Wednesday 04-29-26 10:00AM in conference room 224.

lower

Apr 27, 2026

Lower · Passed

Bill scheduled for Conference Committee Meeting on Tuesday, 04-28-26 10:03AM in conference room 224.

lower

Apr 10, 2026

Amended

Senate disagrees with House amendments.

upper

Apr 10, 2026

Introduced

Received from House (Hse. Com. No. 500).

upper

Apr 9, 2026

Lower · Passed

Passed Third Reading with none voting aye with reservations; Representative(s) Pierick voting no (1) and Representative(s) Cochran excused (1). Transmitted to Senate.

lower

Apr 7, 2026

Lower · Passed

The committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 15 Ayes: Representative(s) Todd, Takenouchi, Hartsfield, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lee, M., Miyake, Perruso, Templo, Yamashita, Gedeon, Reyes Oda; Ayes with reservations: Representative(s) Alcos; Noes: none; and 1 Excused: Representative(s) Morikawa.

lower

Mar 25, 2026

Committee

Reported from HSG (Stand. Com. Rep. No. 1420-26) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

lower

Mar 20, 2026

Lower · Passed

The committee on HSG recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Evslin, Miyake, Grandinetti, Kitagawa, La Chica, Muraoka, Pierick; Ayes with reservations: Representative(s) Cochran; Noes: none; and 1 Excused: Representative(s) Kila.

lower

Mar 10, 2026

Committee

Referred to HSG, FIN, referral sheet 15

lower

Mar 5, 2026

Introduced

Received from Senate (Sen. Com. No. 20) in amended form (SD 2).

lower

Mar 5, 2026

Upper · Passed

Report Adopted; Passed Third Reading, as amended (SD 2). Ayes, 24; Aye(s) with reservations: none. Noes, 0 (none). Excused, 1 (Senator(s) Ihara). Transmitted to House.

upper

Feb 19, 2026

Upper · Passed

The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 11 Aye(s): Senator(s) Dela Cruz, Moriwaki, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kim, Lee, C., Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Kidani, Richards.

upper

Feb 13, 2026

Upper · Passed

The committee(s) on WAM will hold a public decision making on 02-19-26 10:30AM; Conference Room 211 & Videoconference.

upper

Feb 11, 2026

Upper · Passed

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.

upper

Feb 11, 2026

Committee

Reported from HOU (Stand. Com. Rep. No. 2146) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.

upper

Feb 3, 2026

Upper · Passed

The committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in HOU were as follows: 4 Aye(s): Senator(s) Chang, Hashimoto, Elefante, Rhoads; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Fevella.

upper

Jan 23, 2026

Upper · Passed

The committee(s) on HOU has scheduled a public hearing on 01-27-26 1:00PM; Conference Room 225 & Videoconference.

upper

Jan 22, 2026

Committee

Referred to HOU, WAM.

upper

Jan 21, 2026

Introduced

Introduced and passed First Reading.

upper

Jan 14, 2026

Introduced

Pending Introduction.

upper

1 primary · 4 co-sponsors