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SB 2060 SD2

Hawaii - Session 2026

Senate in_committee 2026-03-20
Bill Details

Title: HHFDC; Department of Budget and Finance; RHRF; Mixed-Income Subaccount; Transfer of Moneys

Summary

Authorizes the Hawaii Housing Finance and Development Corporation, with the approval of the Director of Finance and the Legislature by concurrent resolution, to transfer moneys between the rental housing revolving fund and its subaccounts, without further legislative authorization. Authorizes the rental housing revolving fund to be used to provide any and all forms of financing for the development, pre-development, construction, acquisition, preservation, and substantial rehabilitation of rental housing units. Requires the Corporation to give preference to certain projects with perpetual affordability commitments and to applicants with a demonstrated history of early repayment to the rental housing revolving fund. Requires rental housing revolving fund loans applied for or awarded after 12/31/2026 to be subject to review and renegotiation when any mortgage debt to which the loan is subordinate is refinanced or retired. Authorizes the Director of Finance to transfer moneys from the rental housing revolving fund to its mixed-income subaccount for FY 2026-2027. Makes the mixed-income subaccount of the rental housing revolving fund permanent. Effective 7/1/2050. (SD2)

Sponsor
Stanley Chang
Official Source Back to Bills
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Actions Timeline
Date Event Detail
0000-00-00 Introduced Bill introduced
2026-03-20 Status in_committee
2026-03-20 Latest Action The committee on HSG recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Evslin, Miyake, Grandinetti, Kitagawa, La Chica, Muraoka, Pierick; Ayes with reservations: Representative(s) Cochran; Noes: none; and 1 Excused: Representative(s) Kila.
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