Increases the limit of the State's liability for loans guaranteed by the Department of Hawaiian Home Lands.
This bill amends the Hawaiian Homes Commission Act to increase the limit of the State's liability from $100,000,000 to $500,000,000 for loans guaranteed by the Department of Hawaiian Home Lands. The increased liability is necessary due to the rising number of housing units expected on Hawaiian home lands, driven by Act 279 and other factors. The bill also outlines the department's functions and rights related to loan guarantees, including the use of funds and the protection of security interests.
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