Hawaii HB2315 establishes a pilot project allowing state employees to use accrued vacation leave for down payments on primary residences.

Hawaii HB2315 creates a three-year pilot project enabling Department of Health employees to use their accrued vacation leave for down payments on primary residences. This initiative aims to address the housing crisis by reducing the financial barrier to homeownership. Eligible employees must meet criteria such as being U.S. citizens, bona fide residents, and not owning a primary residence within three years. The payout ranges from $5,000 to $50,000 per employee, subject to budget availability. Funds are paid directly to the escrow, title company, or lender at closing.

Hawaii HB2315 establishes a pilot project allowing state employees to use accrued vacation leave for down payments on primary residences.

Hawaii HB2315 creates a three-year pilot project enabling Department of Health employees to use their accrued vacation leave for down payments on primary residences. This initiative aims to address the housing crisis by reducing the financial barrier to homeownership. Eligible employees must meet criteria such as being U.S. citizens, bona fide residents, and not owning a primary residence within three years. The payout ranges from $5,000 to $50,000 per employee, subject to budget availability. Funds are paid directly to the escrow, title company, or lender at closing.