Establishes limited-profit housing associations to create affordable housing in Hawaii.
The bill creates limited-profit housing associations to provide long-term affordable housing in Hawaii. These associations can construct, rehabilitate, and manage affordable housing units. The bill outlines the governance, financial management, and operational standards for these associations. It also establishes a limited-profit housing council to oversee these associations. The bill includes provisions for the review of leasehold and rental prices, asset management, and the tax treatment of income earned by these associations.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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