Establishes the Housing Efficiency and Innovation Subaccount within the Rental Housing Revolving Fund. Specifies permissible uses of funding and priorities. Authorizes the Hawaii Housing Finance and Development Corporation to transfer funds between the Housing Efficiency and Innovation Subaccount and the Rental Housing Revolving Fund without legislative approval. Appropriates funds. Takes effect 7/1/2050. (SD1)
Exempts certain state-financed housing developments from the requirement to obtain approval from the applicable county council. Authorizes a county planning director to reject certain permit applications due to a lack of infrastructure. Effective 7/1/3000. (HD1)
HB 1457 allows the Department of Hawaiian Home Lands (DHHL) to request tax increment financing (TIF) from counties. This would enable DHHL to use future increases in local property tax revenue from specific development areas to fund current projects. The bill directly affects DHHL and county governments, as it creates a formal process for counties to approve such financing requests. (Effective date listed as 7/1/3000 appears to be a typo; standard TIF mechanisms typically apply to current development projects.)
Authorizes the Hawaii Housing Finance and Development Corporation to allow projects to grant preferences in the sale or lease of housing units to applicants who live or work within five miles of the project. Takes effect 7/1/2050. (SD1)
Authorizes the Hawaii Housing Finance and Development Corporation to utilize revenue bonds when securing a line of credit or other instrument of indebtedness for the Bond Volume Cap Recycling Program. Effective 7/1/3000. (HD1)
Establishes the Kamaaina Homes Program to provide funding to the counties to purchase voluntary deed restrictions from eligible homeowners or homebuyers. Effective 7/1/3000. (HD2)
Requires, for tenancies greater than 90 days, a landlord to notify a tenant of any intent to raise the rent for any subsequent rental agreement or any intent to terminate a rental agreement 60 days before the expiration of the original rental agreement. Requires 90 day's notice for a landlord or tenant to terminate tenancies of three years or more and 60 days' notice to terminate tenancies of less than three years, with certain exceptions. Increases the amount of notice required to terminate tenancies that are less than month-to-month. Effective 7/1/3000. (HD1)
Exempts transfers of Hawaiian Home Lands from transfer restrictions for real property under housing development programs of the Hawaii Housing Finance and Development Corporation. Effective 7/1/3000. (SD1)
Clarifies that a partner or member that is a partnership or limited liability company that has been allocated a low-income housing tax credit may either further allocate the credit or transfer, sell, or assign all or a portion of the credit to any person. Extends the sunset date of Act 129, SLH 2016, relating to the low-income housing tax credit, from 12/31/2027 to 12/31/2032. Effective 7/1/3000. (HD2)
Establishes a working group within the Hawaii Housing Finance and Development Corporation to identify existing mixed-use developments in Maui County that could be acquired by the Hawaii Housing Finance and Development Corporation for use as affordable housing and commercial rental leases. Requires a report to the Legislature. Effective 7/1/3000. (HD1)