HawaiiRELATING TO THE RENTAL HOUSING REVOLVING FUND.
What it does
Authorizes the Rental Housing Revolving Fund (RURF) 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 Hawaii Housing Finance and Development Corporation (HHFDC) to give preference to certain projects with perpetual affordability commitments and to applicants with a demonstrated history of early repayment to the RHRF. Authorizes HHFDC, with the approval of the Director of Finance, to transfer moneys between the RHRF and its subaccounts without further legislative authorization.
More detail
Requires certain RHRF 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 HHFDC to use reserved but unencumbered funds for short‑term projects with certain conditions. Authorizes HHFDC to secure lines of credit, standby bond purchase agreements, or other credit enhancement facilities to provide liquidity for the RHRF in certain circumstances. Authorizes the Director of Finance to transfer moneys from the RHRF to its Mixed-Income Subaccount for FY 2026‑2027. Appropriates funds. Effective 7/1/2050. (SD1)
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Mar 30Reported from HOU (Stand. Com. Rep. No. 3206) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.Latest
- Mar 30Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.Minor
- Mar 17The committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in HOU were as follows: 4 Aye(s): Senator(s) Chang, Hashimoto, Elefante, Rhoads; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Fevella.Minor
- Vote recorded The committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. Result: pass.Upper
- Mar 12The committee(s) on HOU has scheduled a public hearing on 03-17-26 1:05PM; Conference Room 225 & Videoconference.
- Mar 10Referred to HOU, WAM.Minor
- Mar 6Received from House (Hse. Com. No. 43).Minor
- Mar 6Passed First Reading.Minor
- Mar 5Reported from FIN (Stand. Com. Rep. No. 861-26), recommending passage on Third Reading.
- Vote recorded Passed Third Reading. Result: pass.Lower
- Mar 5Passed Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Perruso excused (1). Transmitted to Senate.Passed House
- Mar 2The committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 15 Ayes: Representative(s) Todd, Takenouchi, Hartsfield, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lee, M., Miyake, Morikawa, Perruso, Templo, Yamashita, Gedeon, Reyes Oda; Ayes with reservations: none; Noes: none; and 1 Excused: Representative(s) Alcos.Minor
- Vote recorded The committee on FIN recommend that the measure be PASSED, UNAMENDED. Result: pass.Lower
- Feb 27The committee(s) on FIN recommend(s) that the measure be deferred until 03-02-26.Minor
- Feb 27Bill scheduled for decision making on Monday, 03-02-26 10:00AM in conference room 308 VIA VIDEOCONFERENCE.
- Feb 24Bill scheduled to be heard by FIN on Friday, 02-27-26 2:00PM in House conference room 308 VIA VIDEOCONFERENCE.
- Feb 19Reported from HSG (Stand. Com. Rep. No. 574-26) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
- Vote recorded Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN. Result: pass.Lower
- Feb 19Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and none excused (0).Minor
- Feb 11The committee on HSG recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 9 Ayes: Representative(s) Evslin, Miyake, Cochran, Grandinetti, Kila, Kitagawa, La Chica, Muraoka, Pierick; Ayes with reservations: none; Noes: none; and Excused: none.Minor
- Vote recorded The committee on HSG recommend that the measure be PASSED, WITH AMENDMENTS. Result: pass.Lower
- Feb 6Bill scheduled to be heard by HSG on Wednesday, 02-11-26 9:00AM in House conference room 430 VIA VIDEOCONFERENCE.
- Jan 26Referred to HSG, FIN, referral sheet 1Minor
- Jan 21Introduced and Pass First Reading.Minor
- Jan 20Prefiled.Introduced