Requires certain landlords to provide a specified notice to a tenant regarding the tenant's potential right to purchase the property, under certain conditions. Allows tenants, families, local governments, affordable housing nonprofits, and community land trusts forty-five days to match or beat the best bona fide offer to buy an eligible affordable housing property. Establishes conveyance tax rates for the sale of eligible affordable housing properties.
Authorizes the Hawaii Housing Finance and Development Corporation to approve and certify general excise tax exemptions, including for non-contracting costs, for certain housing development projects developed under county housing incentive programs. Makes conforming amendments. Sunsets 7/1/2031. Effective 7/1/2050. (SD1)
Authorizes the Department of Hawaiian Home Lands to utilize funds in the Dwelling Unit Revolving Fund as collateral when DHHL is an eligible borrower of a loan guaranteed by the United States Department of Housing and Urban Development pursuant to the Housing and Community Development Act, as amended, subject to approval of the Hawaii Housing Finance and Development Corporation. Appropriates funds. (SD1)
Establishes a Vacant Homes Special Fund under the Hawaii Housing Finance and Development Corporation for rental assistance programs. Establishes a general excise tax surcharge on an owner that allows a residential real property to remain vacant for 180 days or more a year. Requires persons who own residential real property, but do not live there, to obtain a general excise tax license. Requires the counties to disclose to the Department of Taxation a list of properties classified as not being occupied by an owner of that property. Requires the Department of Business, Economic Development, and Tourism to calculate average annual rental value for the basis for the surcharge amount.
Establishes the Accessory Dwelling Unit Financing and Deed Restriction Program to be administered by the Hawaii Housing Finance and Development Corporation to allocate funds to the counties for the purchase of equity for eligible homeowners or homebuyers to finance construction costs, development costs, and non-reoccurring closing costs associated with the construction of an accessory dwelling unit and purchase deed restrictions on such property. Exempts the conveyance tax for certain properties for taxable years beginning on 1/1/2026. Effective 7/1/2050. (SD1)
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 low- to moderate-income households and report to the Legislature regarding the pilot program. Appropriates funds from the Dwelling Unit Revolving Fund for the establishment of the pilot program. (SD1)
Establishes the Emergency Home Loan Assistance Revolving Fund to be administered by the Hawaii Housing Finance and Development Corporation. Establishes terms for loans issued from the Revolving Fund. Requires annual reports to the Legislature. Appropriates funds.
Authorizes the counties to implement housing infrastructure growth bonds. Conforms county debt limit statements law to permit counties to exclude housing infrastructure growth bonds from the debt limit of the counties if a constitutional amendment authorizing the use of housing infrastructure growth bonds and excluding housing infrastructure growth bonds from determinations of the counties' funded debt is ratified. 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)
Requires the Hawaii Housing Finance and Development Corporation to consider additional preferential factors when supplying housing or assistance in obtaining housing. Requires the Hawaii Housing Finance and Development Corporation to determine the order of preferences and rank applicants, select applicants based on application date, and validate the preference status of applicants. Effective 7/1/3000. (HD1)