Clarifies that projects seeking exemptions from planning and development laws and rules may be modified by the Hawaii Housing Finance and Development Corporation under certain conditions. Authorizes HHFDC to make recommendations to appropriate Legislative bodies. Requires HHFDC or a county to accept an application seeking certain exemptions within thirty days, and to process the application within one hundred twenty days before final approval by a county legislative body for certain housing projects. Effective 7/1/2050. (SD1)
Establishes an organizational, tax, and regulatory framework for limited-profit housing associations. Establishes the Limited-Profit Housing Council to oversee limited-profit housing associations. (SD1)
Authorizes each county that has established a surcharge on state tax before 7/1/2015 to extend the surcharge until 12/31/2045, at the same rates, if the county does so before 1/1/2028. Provides that no county surcharge on state tax authorized for a county that has not established a surcharge on state tax before 7/1/2015, shall be levied before 1/1/2019, or after 12/31/2045. Repeals certain conditions on the use of surcharges for housing infrastructure costs. Effective 5/13/2040. (SD1)
Establishes the Workforce Housing Regulatory Sandbox Program within the Hawaii Housing Finance and Development Corporation. Establishes an Advisory Council within the Workforce Housing Regulatory Sandbox Program to advise on environmental and cultural practices within specific developments. Establishes a position. Requires annual reports to the Legislature. Appropriates funds. Repeals 6/30/2030. (SD1)
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)
Requires the Director of Finance to consider, before the selection of a depository for the state treasury, the beneficial effects to the State of using depositories within the State, including but not limited to lending at favorable terms for the creation of certain affordable housing units. Effective 7/1/2050. (SD1)
Establishes a working group to revise the State's Qualified Allocation Plan, the prioritization of the Rental Housing Revolving Fund, and the terms of loans made from the RHRF. Requires a report to the Legislature.
Requires rental housing projects to maintain, in perpetuity, fifty per cent of the project's units for certain low-income tenants to be eligible for assistance under the Hawaii Housing Finance and Development Corporation's rental assistance program.
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)
Authorizes certain counties to establish a rental unit price ceiling ordinance that prohibits a landlord from increasing the rental price of a dwelling unit at a rate that exceeds the percentage calculated and published by the county based on changes in the applicable Consumer Price Index. Beginning 8/1/2025, requires certain counties to annually calculate and publish the maximum rate at which a landlord may increase the rental price of a dwelling unit during the immediately succeeding twelve-month period. Establishes a nonrefundable Long-Term Residential Lease Tax Credit for taxpayers who own and lease a dwelling unit located in a county that has adopted a rental unit price ceiling ordinance to a person as the person's principal residence in the State pursuant to a lease agreement of a term of one year or longer. Allows the tax credit to be carried forward for up to three taxable years. Applies to taxable years beginning after 12/31/2025. Effective 7/1/2050. (SD2)