STAND. COM. REP. NO. 1826

Honolulu, Hawaii

RE: H.B. No. 833

H.D. 1

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 833, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO COMMUNITY LAND TRUSTS,"

begs leave to report as follows:

The purpose and intent of this measure is to grow and preserve the inventory of affordable housing by supporting the expansion of community land trusts.

Specifically, this measure:

(1) Authorizes the Hawaii Housing Finance and Development Corporation to establish a five-year community land trust equity pilot program to provide community land trusts with a line of credit to fund the acquisition, rehabilitation, renovation, or construction of housing for qualified residents as defined in section 201H-32, Hawaii Revised Statutes;

(2) Appropriates an unspecified amount from the dwelling unit revolving fund to support the community land trust equity pilot program; and

(3) Requires the Corporation to submit to the Legislature annual interim status reports on the program and a final report on the program, including findings, recommendations, and proposed legislation.

Your Committee received written comments in support of this measure from the Hawaii Housing Finance and Development Corporation, Na Hale O Maui, and three individuals.

Your Committee finds that community land trusts provide shared equity homeownership opportunities that foster generational wealth and community stability. Your Committee further finds that community land trusts effectively aid post-disaster recovery by discouraging predatory investment and contributing to long-term housing affordability. Your Committee notes that community land trusts face difficulty obtaining financing to acquire and rehabilitate housing. Additional financial support will enable community land trusts to increase their inventory of housing and help ensure affordability in perpetuity of a greater number of homes.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 833, H.D. 1, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair