Establishes a mixed-income subaccount within the rental housing revolving fund to support mixed-income rental projects.

The bill amends Hawaii Revised Statutes to create a mixed-income subaccount within the rental housing revolving fund. This subaccount will finance mixed-income rental projects, primarily for households with incomes at or below 140% of the area median income. The corporation will manage an application process for fund allocation, prioritizing projects with at least 50% of units for households with incomes at or below 80% of the median family income, including 5% for those at or below 30%. The corporation must report annually to the legislature on projects funded from this subaccount.

Establishes a mixed-income subaccount within the rental housing revolving fund to support mixed-income rental projects.

The bill amends Hawaii Revised Statutes to create a mixed-income subaccount within the rental housing revolving fund. This subaccount will finance mixed-income rental projects, primarily for households with incomes at or below 140% of the area median income. The corporation will manage an application process for fund allocation, prioritizing projects with at least 50% of units for households with incomes at or below 80% of the median family income, including 5% for those at or below 30%. The corporation must report annually to the legislature on projects funded from this subaccount.