RELATING TO LAND DEVELOPMENT.

Establishes a residential leasehold program within the Hawaii Housing Finance and Development Corporation. Exempts from the definition of public lands, lands set aside by the Governor or leased by any state department or agency to the Hawaii Housing Finance and Development Corporation, for the primary purposes of developing affordable housing. Requires the Hawaii Housing Finance and Development Corporation to submit a report to the Legislature that identifies all state lands that may be developed for multi-unit dwellings. Requires the Hawaii Housing Finance and Development Corporation to submit a report to the Legislature that addresses various housing concerns, including the steps necessary to end the State's housing shortage. Authorizes the issuance of $275,000,000 in general obligation bonds, with the proceeds used for the establishment of infrastructure to support the development of housing. Appropriates $500,000 for 3 full-time equivalent (3.0 FTE) project manager positions. Authorizes a person to petition the appropriate county land use decision-making authority, rather than the Land Use Commission, for a change in the boundary of a district involving land areas between 15 acres and 25 acres where the majority of the development will be for affordable housing. Authorizes the State Historic Preservation Division to delegate the responsibility of historic preservation project reviews to the impacted county. Establishes the Office of the Housing Advocate. Removes the existing statutory cap on the amount of conveyance tax revenues that are deposited into the rental housing revolving fund each fiscal year. (SD2)