HB 1727: RELATING TO THE RENTAL HOUSING REVOLVING FUND.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

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. 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)

Sponsors

Sponsors by party (alphabetical): Democratic 12 · Republican 3

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 30, 2026Reported from HOU (Stand. Com. Rep. No. 3206) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
2. March 30, 2026Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
3. March 17, 2026The 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.
4. March 12, 2026The committee(s) on HOU has scheduled a public hearing on 03-17-26 1:05PM; Conference Room 225 & Videoconference.
5. March 10, 2026Referred to HOU, WAM.
6. March 6, 2026Received from House (Hse. Com. No. 43).
7. March 6, 2026Passed First Reading.
8. March 5, 2026Reported from FIN (Stand. Com. Rep. No. 861-26), recommending passage on Third Reading.
9. March 5, 2026Passed Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Perruso excused (1). Transmitted to Senate.
10. March 2, 2026The 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.
11. February 27, 2026The committee(s) on FIN recommend(s) that the measure be deferred until 03-02-26.
12. February 27, 2026Bill scheduled for decision making on Monday, 03-02-26 10:00AM in conference room 308 VIA VIDEOCONFERENCE.

Showing 12 most recent of 20 actions. Full history