Clarifies that the dwelling units eligible for the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of not less than ninety-nine years. Increases the time period that the sales price of dwelling units under the Rent-to-Own Program shall remain fixed from five years to ten years after the rental agreement is executed. Effective 7/1/2050. (SD1)
Establishes the Ohana Zones Program as a program within the Statewide Office on Homelessness and Housing Solutions. Authorizes the Hawaii Housing Finance and Development Corporation to exempt ohana zones projects from general excise taxes. Requires annual reports to the Legislature. Appropriates funds. Effective 7/1/3000. (HD1)
Authorizes the Hawaii Housing Finance and Development Corporation to utilize revenue bonds when securing a line of credit or other instrument of indebtedness for the Bond Volume Cap Recycling Program. Effective 7/1/3000. (HD1)
Clarifies the definition of "qualified nonprofit housing trust" to specify organizations that exclusively serve qualified residents as defined in section 201H-32, HRS.
Clarifies that projects seeking exemptions from planning and development laws and rules may be modified by the Hawaii Housing Finance and Development Corporation under certain conditions. Authorizes HHFDC to make recommendations to appropriate Legislative bodies. Requires HHFDC or a county to accept an application seeking certain exemptions within thirty days, and to process the application within one hundred twenty days before final approval by a county legislative body for certain housing projects. Effective 7/1/2050. (SD1)
Establishes an organizational, tax, and regulatory framework for limited-profit housing associations. Establishes the Limited-Profit Housing Council to oversee limited-profit housing associations. (SD1)
Authorizes each county that has established a surcharge on state tax before 7/1/2015 to extend the surcharge until 12/31/2045, at the same rates, if the county does so before 1/1/2028. Provides that no county surcharge on state tax authorized for a county that has not established a surcharge on state tax before 7/1/2015, shall be levied before 1/1/2019, or after 12/31/2045. Repeals certain conditions on the use of surcharges for housing infrastructure costs. Effective 5/13/2040. (SD1)
Establishes the Workforce Housing Regulatory Sandbox Program within the Hawaii Housing Finance and Development Corporation. Establishes an Advisory Council within the Workforce Housing Regulatory Sandbox Program to advise on environmental and cultural practices within specific developments. Establishes a position. Requires annual reports to the Legislature. Appropriates funds. Repeals 6/30/2030. (SD1)
Exempts transfers of Hawaiian Home Lands from transfer restrictions for real property under housing development programs of the Hawaii Housing Finance and Development Corporation. Effective 7/1/3000. (SD1)
Requires the Director of Finance to consider, before the selection of a depository for the state treasury, the beneficial effects to the State of using depositories within the State, including but not limited to lending at favorable terms for the creation of certain affordable housing units. Effective 7/1/2050. (SD1)