Establishes a five-year pilot program for the Hawaii Housing Finance and Development Corporation to purchase equity in for-sale housing projects.
The bill amends Hawaii law to establish a five-year pilot program for the Hawaii Housing Finance and Development Corporation to purchase equity in for-sale housing projects. The program aims to address the high demand for housing among Hawaii residents, particularly those in professions facing shortages. Eligible buyers must be bona fide residents of Hawaii, own no other real property, and work in a profession facing a labor shortage. The corporation can establish criteria for prioritizing eligible buyers.
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