Hawaii SB2342 amends housing finance policies to prioritize perpetual affordability and government-owned projects.

Hawaii SB2342 establishes a working group to revise the Hawaii housing finance and development corporation's qualified allocation plan. The group aims to prioritize projects with perpetual affordability commitments, government-owned developments, and shorter loan terms. The bill also mandates that the corporation cannot allocate low-income housing tax credits or rental housing revolving fund moneys to projects without a perpetual affordability commitment. The working group will submit its findings and recommendations to the legislature by 2027.

Hawaii SB2342 amends housing finance policies to prioritize perpetual affordability and government-owned projects.

Hawaii SB2342 establishes a working group to revise the Hawaii housing finance and development corporation's qualified allocation plan. The group aims to prioritize projects with perpetual affordability commitments, government-owned developments, and shorter loan terms. The bill also mandates that the corporation cannot allocate low-income housing tax credits or rental housing revolving fund moneys to projects without a perpetual affordability commitment. The working group will submit its findings and recommendations to the legislature by 2027.