Establishes a community land trust equity pilot program to fund affordable housing.

The bill defines a community land trust as a nonprofit organization that acquires land for long-term leases, transfers ownership of improvements to lessees, and retains a first option to purchase improvements. It authorizes the Hawaii Housing Finance and Development Corporation to establish a five-year pilot program providing low-cost credit to community land trusts for affordable housing. The program aims to support low- to moderate-income households and prevent displacement. The bill appropriates funds for the pilot program and requires interim and final reports to the legislature.

Establishes a community land trust equity pilot program to fund affordable housing.

The bill defines a community land trust as a nonprofit organization that acquires land for long-term leases, transfers ownership of improvements to lessees, and retains a first option to purchase improvements. It authorizes the Hawaii Housing Finance and Development Corporation to establish a five-year pilot program providing low-cost credit to community land trusts for affordable housing. The program aims to support low- to moderate-income households and prevent displacement. The bill appropriates funds for the pilot program and requires interim and final reports to the legislature.