Hawaii HB1408 allows the Department of Hawaiian Home Lands to use a revolving fund as collateral for loans to develop residential homestead lots and.
Hawaii HB1408 amends the Hawaii State Constitution and Hawaii Revised Statutes to allow the Department of Hawaiian Home Lands to use a dwelling unit revolving fund as collateral for loans guaranteed by the United States Department of Housing and Urban Development. This fund will support the development of residential homestead lots and housing units. The bill also appropriates $75,000,000 for fiscal years 2025-2026 and 2026-2027 to be deposited into the revolving fund.
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