Housing

Exempts Hawaii Housing Finance and Development Corporation employees from the requirement that their employment actions and job descriptions be subject to approval by the Director of Business, Economic Development, and Tourism. Requires the Executive Director of HHFDC to be paid a salary recommended by its Board of Directors and subject to the approval of the Director of Business, Economic Development, and Tourism, not to exceed ninety-nine per cent of the salary of the Governor. Renames the position of Executive Assistant to Deputy Executive Director for HHFDC and increases the salary cap for the Deputy Executive Director. Establishes conditions for the issuance, renewal, and termination of employment contracts issued by the HHFDC, Hawaii Community Development Authority, and the Hawaii Public Housing Authority. Exempts the Executive Director of HCDA, and officers, agents, and employees appointed by the Executive Director, from the requirement that their employment actions and job descriptions be subject to approval by the Director of Business, Economic Development, and Tourism. Requires the Executive Director of HCDA to be paid a salary recommended by the Authority and subject to the approval of the Director of Business, Economic Development, and Tourism, not to exceed ninety-nine per cent of the salary of the Governor. (CD1)

Authorizes the Rental Housing Revolving Fund 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 to give preference to certain projects with perpetual affordability commitments, that are revenue neutral, and to applicants with a demonstrated history of early repayment to the RHRF. Authorizes HHFDC to use moneys in the RHRF that have been reserved or awarded by HHFDC for specific projects but have not yet been encumbered to fund other rental housing projects subject to certain conditions. Authorizes HHFDC to secure a line of credit or other instrument of indebtedness to provide liquidity for the RHRF under certain conditions. Repeals 6/30/2030. (CD1)

For taxable years beginning 1/1/2027: (1) increases the maximum annual and total allowable deduction for contributions to individual housing accounts for income tax deductions; and (2) increases the maximum allowable contributions for individual housing accounts to qualify for the income tax deductions. Repeals outdated language applicable to first‑time home purchases made before 1/1/1990, by persons with an individual housing account. (CD1)

Deems a county inclusionary mandate as a form of development exaction and treats the mandate as a housing affordability impact fee. Provides parameters for a county's adoption or amendment of an inclusionary mandate for residential or mixed-use development. Establishes additional components for a needs assessment study for a county-imposed inclusionary mandate. Conditions the adoption or amendment of a county inclusionary mandate for residential or mixed-use development on written findings of essential nexus and rough proportionality and a determination of financial feasibility. (CD1)

Establishes a 5-year Hawaii Builds Pilot Program within the Hawaii Housing Finance and Development Corporation. Authorizes the use of the Dwelling Unit Revolving Fund for the Pilot Program, subject to an annual cap. Mandates interagency coordination and expedited review for projects to facilitate timely delivery of projects. Requires annual reports to the Legislature. Sunsets 6/30/2031. (CD1)