Informing the Legislature that on May 30, 2024, the Governor signed the following bill into law: SB2337 SD2 HD2 CD1 (ACT 045).

This bill allows Hawaii counties to take on the same powers as the state Housing Finance and Development Corporation to build, finance, and manage mixed-use developments and affordable housing projects. By amending state law, the measure enables counties to issue their own bonds, acquire land, provide loans, and guarantee mortgages to support these initiatives, while explicitly prohibiting them from causing the state to issue general obligation bonds for these projects. The legislation also ensures that county housing projects receive the same tax exemptions as state projects and must prioritize walkability where possible. Directly affected parties include county governments, which gain new tools to address local housing needs, and developers or lenders who may partner with counties on these housing efforts.