Housing

Authorizes the Hawaii Housing Finance and Development Corporation to establish a five-year Community Land Trust Equity Pilot Program to provide community land trusts with a line of credit to fund the acquisition, rehabilitation, renovation, or construction of housing for certain households. Requires reports to the Legislature regarding the pilot program. Appropriates funds from the Dwelling Unit Revolving Fund for establishment of the pilot program. Sunsets the pilot program on 6/30/2030. Takes effect 7/1/2050. (SD1)

Establishes the Mixed-Income Subaccount within the Rental Housing Revolving Fund to prioritize development of workforce rental and for-sale housing projects for qualified residents. Requires the Hawaii Housing Finance and Development Corporation to adopt administrative rules. Appropriates moneys. Effective 7/1/2050. (SD2)

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 taxpayer. Extends the sunset date of Act 129, SLH 2016, relating to the low-income housing tax credit, until 12/31/2032. Effective 7/1/3000. (HD1)

Establishes an Agricultural Workforce Housing Working Group within the Department of Agriculture to address the shortage and challenges of agricultural workforce housing in the State. Requires reports to the Legislature. Appropriates funds. Effective 7/1/2050. (SD1)

Establishes the Mixed-Income Subaccount within the Rental Housing Revolving Fund that targets workforce rental housing projects for persons and families with incomes at or below one hundred forty per cent of the area median income. Authorizes the Director of Finance to transfer funds from the Rental Housing Revolving Fund into the Mixed-Income Subaccount. Appropriates funds into and out of the Mixed-Income Subaccount of the Rental Housing Revolving Fund. Effective 7/1/3000. (HD1)

Extends the Dwelling Unit Revolving Fund Equity Pilot Program to 6/30/2030. Gives preference to for-sale housing development projects developed under governmental assistance programs approved by the Hawaii Housing Finance and Development Corporation. Effective 7/1/3000. (HD1)

Allows tax credits claimed under the State Low-Income Housing Tax Credit Program to be used to offset taxes imposed by the state transient accommodations tax law. Specifies that tax credit amounts applied to state transient accommodations taxes be limited to state transient accommodations taxes imposed in the same county in which the qualified low-income building is located. Makes permanent Act 129, SLH 2016. Applies to taxable years beginning after 12/31/2027. Effective 7/1/3000. (SD1)

Authorizes the Rental Housing Revolving Fund (RURF) 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 (HHFDC) to give preference to certain projects with perpetual affordability commitments and to applicants with a demonstrated history of early repayment to the RHRF. Authorizes HHFDC, with the approval of the Director of Finance, to transfer moneys between the RHRF and its subaccounts without further legislative authorization. Requires certain RHRF loans applied for or awarded after 12/31/2026 to be subject to review and renegotiation when any mortgage debt to which the loan is subordinate is refinanced or retired. Authorizes HHFDC to use reserved but unencumbered funds for short‑term projects with certain conditions. Authorizes HHFDC to secure lines of credit, standby bond purchase agreements, or other credit enhancement facilities to provide liquidity for the RHRF in certain circumstances. Authorizes the Director of Finance to transfer moneys from the RHRF to its Mixed-Income Subaccount for FY 2026‑2027. Appropriates funds. Effective 7/1/2050. (SD1)

HB 1733 increases the maximum bond amount authorized under the state's Hula Mae Multifamily Housing Program, allowing more funds to finance affordable rental housing statewide. This directly affects developers building or maintaining low-income housing projects and residents relying on these affordable units. The bill raises the funding ceiling to prevent the program from hitting current limits, ensuring continued support for housing affordability. It does not change eligibility rules but expands available capital for housing projects across the state.

Authorizes HHFDC to designate certain for-sale units as permanently affordable housing, subject to certain restrictions. Clarifies that certain resale and occupancy restrictions apply only to projects developed prior to a certain date. Amends the definition of "qualified resident" for the purposes of HHFDC housing development programs. Effective 7/1/3000. (SD1)