Increases the Hula Mae multifamily revenue bond authorization to $5 billion to address Hawaii's affordable housing crisis.

The bill amends the Hawaii housing loan and mortgage program by increasing the Hula Mae multifamily revenue bond authorization from $3 billion to $5 billion. This change aims to assist Hawaii residents in obtaining affordable rental housing as housing costs rise. The increased bond authorization allows the Hawaii Housing Finance and Development Corporation to issue bonds for housing loan programs. The bill also specifies that revenue bonds treated as refunding bonds under the Internal Revenue Code will not count against the $5 billion authorization.

Increases the Hula Mae multifamily revenue bond authorization to $5 billion to address Hawaii's affordable housing crisis.

The bill amends the Hawaii housing loan and mortgage program by increasing the Hula Mae multifamily revenue bond authorization from $3 billion to $5 billion. This change aims to assist Hawaii residents in obtaining affordable rental housing as housing costs rise. The increased bond authorization allows the Hawaii Housing Finance and Development Corporation to issue bonds for housing loan programs. The bill also specifies that revenue bonds treated as refunding bonds under the Internal Revenue Code will not count against the $5 billion authorization.