SB3231 - Relating To The Lahaina Bank.

1 Co-Sponsor

Establishes the Lahaina Bank and Lahaina Community Preservation Fund. Directs the Lahaina Bank to administer the Lahaina Community Preservation Fund. Directs the Hawaii Housing Finance and Development Corporation to establish and operate an interim purchase program for distressed properties encumbered by problematic mortgages, insurance short-falls, and other issues caused by the August 2023 Lahaina fire and that require an owner to sell their distressed property until the Lahaina Bank is operational. Authorizes the Director of the Department of Budget and Finance to issue general obligation bonds, the proceeds of which shall be deposited with the Lahaina Bank. Makes an appropriation.