RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION.

Summary

The bill creates a permanent revolving‑fund equity program that lets the Hawaii Housing Finance and Development Corporation purchase a share of newly built for‑sale units. Eligible buyers – qualified residents who own no other property, receive no gift funds, and work in shortage occupations – pay a reduced price, and must repay the corporation’s equity share when they sell, refinance, or otherwise transfer the unit. The measure also removes the sunset provision that would have ended the program.

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