Expands exemptions from school impact fee requirement for certain housing developments. Clarifies procedures and timing for land dedication or fee‑in‑lieu agreements for new residential developments. Repeals the sunset and reporting requirements under Act 268, SLH 2025. Restructures certain school impact fee accounts. Preserves existing educational contribution agreements. (CD1)
Addresses the change in federal law regarding Pell Grants by amending the Hawaii Community College Promise Program (Hawaii Promise) to provide scholarships for ninety-five percent of a student's unmet direct cost need and exclude grants, scholarships, and other funding sources from the calculation of Hawaii Promise awards, thereby allowing students to apply such funds toward indirect costs, including housing, food, and other living expenses, to reduce financial barriers and support student success. Changes Hawaii Promise from being a last-dollar award. Authorizes Hawaii Promise to coordinate with federal student aid programs to maximize total financial assistance available to students. Effective 7/1/2026. (CD1)
This bill removes the expiration date for the State Rent Supplement Program, which provides financial assistance to help elderly residents afford housing. By eliminating the sunset clause, the legislation ensures that current and future eligible seniors can continue to receive rent subsidies without the program ending automatically. The measure directly affects older adults who rely on this state-funded aid and the agencies responsible for administering the program. If passed, the change allows the program to operate indefinitely rather than requiring renewal or replacement at a specific future date.
Extends the sunset date of the Dwelling Unit Revolving Fund Equity Pilot Program pursuant to Act 92, SLH 2023, from June 30, 2028, to June 30, 2031. Requires any equity purchased by the Hawaii Housing Finance and Development Corporation under the Dwelling Unit Revolving Fund Equity Pilot Program to be in a for-sale housing development project within a transit-oriented development zone. Authorizes HHFDC to spend up to $20,000,000 from the Dwelling Unit Revolving Fund for the Equity Pilot Program established pursuant to Act 92, Session Laws of Hawaii 2023. (CD2)
Clarifies that, for tax credits issued after 7/1/2026, 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. (CD1)
Beginning 1/1/2027, authorizes the Hawaii Housing Finance and Development Corporation, instead of the counties, to approve and certify general excise tax exemptions for certain housing development projects developed under county housing incentive programs. Sunsets 7/1/2031. (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)
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)
Repeals the prohibition against qualified residents for Hawaii Housing Finance and Development Corporation-approved projects holding a majority interest in land and repeals the requirement that qualified residents demonstrate financial viability or ability to pay rent. Limits a qualified resident from owning a majority interest in no more than one property suitable for dwelling purposes, but requiring the disposal of such property within two years. Amends exemptions from statutes, ordinances, charter provisions, and rules for certain housing projects developed by the Corporation that satisfy certain conditions, including requirements related to employment, owner-occupancy, and deed restrictions. (CD1)
Amends the Downpayment Loan Assistance Program by: removing the prohibition on combined loan-to-value ratios; clarifying the Hawaii Housing Finance and Development Corporation's authority to establish interest rates and allow payment waivers and interest forgiveness; authorizing financial institutions, mortgage lenders, and other loan originators to originate downpayment loans; and reducing the borrower's required personal contribution toward the downpayment. Authorizes borrowers to use a portion of a downpayment loan to pay for closing costs, prepaids, and reserves for the purchase of the residential property for which the downpayment loan is provided. (CD1)
