Plain English Breakdown
The candidate explanation incorrectly stated an effective date of July 1, 2050. The official source does not provide a specific implementation timeline beyond the approval date.
Housing Preference Law
This law allows housing projects to give preference to people who live or work within five miles of the project.
What This Bill Does
- Gives the Hawaii Housing Finance and Development Corporation (HHFDC) permission to allow housing projects to prioritize local residents and workers when selling or leasing homes.
- Projects can offer preferences to applicants whose home is less than five miles away from the project location.
- Projects can also give preference to people who work within a five-mile radius of the project.
Who It Names or Affects
- People looking for affordable housing in Hawaii
- Housing projects and developers in Hawaii
Terms To Know
- Geographic preferences
- Giving preference to people who live or work close to a specific location.
- Hawaii Housing Finance and Development Corporation (HHFDC)
- A government agency that helps with affordable housing projects in Hawaii.
Limits and Unknowns
- The law does not specify the extent of preference to be given to local residents or workers.
- It is unclear what specific rules the HHFDC will create to follow this new law.