Hawaii SB1632 aims to establish a local housing market through community land trusts and incentives.

Hawaii SB1632 addresses the housing affordability crisis by establishing a local housing market through community land trusts. The bill includes incentives for land trust development, such as land use exemptions and tax credits. It also proposes amendments to inheritance statutes to facilitate multi-generational family land trusts. The Department of Business, Economic Development, and Tourism is tasked with creating a comprehensive action plan to implement these measures, including recommendations for statutory amendments and appropriations.

Hawaii SB1632 aims to establish a local housing market through community land trusts and incentives.

Hawaii SB1632 addresses the housing affordability crisis by establishing a local housing market through community land trusts. The bill includes incentives for land trust development, such as land use exemptions and tax credits. It also proposes amendments to inheritance statutes to facilitate multi-generational family land trusts. The Department of Business, Economic Development, and Tourism is tasked with creating a comprehensive action plan to implement these measures, including recommendations for statutory amendments and appropriations.