Hawaii SB152 authorizes the Department of Hawaiian Home Lands to use funds in the dwelling unit revolving fund as collateral for loans guaranteed by.
Hawaii SB152 amends the Hawaii Revised Statutes to allow the Department of Hawaiian Home Lands to use funds in the dwelling unit revolving fund as collateral for loans guaranteed by the United States Department of Housing and Urban Development. This change aims to support the development of residential homestead lots and housing units, subject to approval by the Hawaii Housing Finance and Development Corporation. The bill also appropriates $75,000,000 for fiscal years 2025-2026 and 2026-2027 from the revolving fund for these purposes. The act is set to take effect on July 1, 2025.
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