HB1318

Affordable housing bill amends lease terms for public lands in Hawaii.

This bill amends the terms of residential leases for public lands in Hawaii, including setting initial lease terms at fifty-five years with extensions not exceeding ninety-nine years. It mandates that lessees construct residences on the leased premises and pay all applicable taxes and assessments. The bill also prohibits subletting and selling of the leased premises without written consent from the board of land and natural resources. It allows for mortgage financing of the lease and improvements, subject to certain conditions.