Increases the loan guarantee limit for the Department of Hawaiian Home Lands.
This bill increases the loan guarantee limit for the Department of Hawaiian Home Lands from $100 million to $500 million. The increase is due to rising mortgage interest rates and construction costs, which have made it difficult for lessees to qualify for mortgages. The bill also allows the department to use funds from the Hawaiian home operating fund to match federal, state, or county funds for loans to lessees. The changes are intended to support the development of new housing units on Hawaiian home lands.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.