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SB 771

RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION.

2025 Regular Session Introduced by Stanley Chang

SB 771 reforms the Hawaii Housing Finance and Development Corporation's board to enhance expertise, aiming to improve affordable housing solutions for residents.

Carried over to 2026 Regular Session.
#boardofdirectors #chairperson #eligibility #hhfdc #membership
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Bill Summary · SB 771

Summary of SB 771: Relating to the Hawaii Housing Finance and Development Corporation

Purpose and Intent

SB 771 aims to amend the governance structure of the Hawaii Housing Finance and Development Corporation (HHFDC) by addressing the composition and eligibility of its Board of Directors. The bill seeks to enhance the effectiveness of the HHFDC in fulfilling its mission to promote affordable housing in Hawaii.

Key Provisions

  • Board Composition: The bill proposes changes to the membership criteria for the Board of Directors of the HHFDC, ensuring that the board is composed of individuals with relevant expertise and experience in housing finance and development.
  • Chairperson Eligibility: It specifies the qualifications required for the Chairperson of the Board, potentially including professional background in real estate, finance, or public policy.
  • Membership Adjustments: The bill may adjust the number of members on the board or the terms of service to improve governance and accountability.

Affected Parties

  • Hawaii Housing Finance and Development Corporation: The primary entity impacted by this bill, as it will alter the governance structure and potentially improve its operational effectiveness.
  • Board Members: Current and future board members will be affected by the new eligibility criteria and governance changes.
  • Residents of Hawaii: The bill indirectly affects residents by aiming to enhance the state's capacity to address affordable housing needs through a more effective HHFDC.

Legislative Timeline

  • Introduced: January 17, 2025
  • First Reading: January 21, 2025
  • Committee Hearings: The bill has undergone multiple committee reviews, including the House Committee on Housing (HOU) and the Senate Committee on Judiciary and Government (JDC), with recommendations for passage.
  • Senate Conferees Appointed: On April 21, 2025, Senate conferees were appointed to facilitate further discussion and resolution of any disagreements between the House and Senate versions of the bill.
  • Current Status: As of April 21, 2025, the bill is in the conference stage, where appointed conferees will work to reconcile differences and finalize the legislation.

Conclusion

SB 771 represents a significant step towards enhancing the governance of the HHFDC, with the potential to improve the state's approach to affordable housing. By refining the qualifications and structure of its Board of Directors, the bill aims to ensure that the corporation is better equipped to meet the housing needs of Hawaii's residents.

Compiled from official sources — confirm details with the bill’s official record.

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