Hawaii House Bill HB951

Hawaii 2023 Regular Session

• Introduced: 1/25/23
• Refer: 1/30/23
• Report Pass: 2/15/23
• Refer: 2/15/23
• Report Pass: 3/3/23
• Engrossed: 3/7/23
• Refer: 3/10/23
• Report Pass: 3/23/23
• Refer: 3/23/23
• Report Pass: 4/4/23

Caption

Relating To Housing.

Impact

The primary impact of HB 951 is expected to be on the rental housing market in Hawaii, particularly for those with incomes ranging from 60% to 100% of the median family income. By providing funding directed towards mixed-income rental units, the bill seeks to alleviate some of the existing pressures on the housing supply, which has been a significant concern within the state due to rising property values and cost of living. The bill primarily empowers the Hawaii housing finance and development corporation to manage these funds and oversee their application.

Summary

House Bill 951 relates to housing and aims to support the development of mixed-income rental projects in Hawaii. The bill proposes appropriating funds from both general revenues and the rental housing revolving fund to facilitate these initiatives. Specifically, it outlines financial allocations for qualifying individuals and families aligned with certain income thresholds, positioning itself as a measure to enhance housing availability and affordability in the state.

Sentiment

The sentiment surrounding the bill appears to be largely supportive among stakeholders advocating for more housing opportunities in Hawaii. Proponents argue that funding mixed-income housing is essential for addressing the ongoing housing crisis in the state, while also enabling a balanced community structure. However, there may be underlying concerns regarding the effectiveness and efficiency of fund allocation, given the long timeline proposed for the bill's implementation, with an effective date set for July 1, 2050.

Contention

Notable points of contention surrounding HB 951 could stem from the long-term implementation timeline which critics may argue is impractical. There are also concerns regarding whether the appropriated funds will adequately cover the demands of various housing projects, and how the adjustments may impact rental prices and availability in the interim. Overall, the debate reflects broader conversations about housing policy, economic disparity, and urban development strategies within Hawaii.