HB1513 • 2026

RELATING TO CONDOMINIUMS.

Budget Taxes

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: MATAYOSHI, CHUN, GRANDINETTI, ILAGAN, KILA, KITAGAWA, KUSCH, LEE, M., MARTEN, MORIKAWA, OLDS, TAM, TARNAS, TEMPLO
Last action: 2026-02-20
Official status: Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Quinlan excused (1).
Effective date: Not listed

Plain English Breakdown

The bill summary does not specify how much of the $100 million will come from the Hurricane Reserve Trust Fund initially.

Condominium Loan Program Funding

This bill authorizes the issuance of $100 million in reimbursable general obligation bonds to fund a loan program for condominium associations' maintenance and repair projects.

What This Bill Does

Authorizes the director of finance to issue up to $100 million in reimbursable general obligation bonds for the Condominium Loan Program.
Appropriates funds from the Hurricane Reserve Trust Fund to cover initial bond payments.

Who It Names or Affects

Condominium associations needing financial assistance for repairs or maintenance.
The director of finance, who will issue bonds.
The Hawaii Green Infrastructure Authority, which manages the loan program.

Terms To Know

Reimbursable general obligation bonds: Bonds that are repaid from specific revenue sources rather than general tax revenues.
Condominium Loan Program: A program providing low-cost financing to condominium associations for maintenance and repair projects.

Limits and Unknowns

The bill does not specify the exact amount of funds from the Hurricane Reserve Trust Fund that will be used initially.
It is unclear when exactly the bonds will start being issued after July 1, 2026.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HD1

Hawaii published version HD1

Plain English: This amendment authorizes the issuance of reimbursable general obligation bonds to provide additional funding for the Condominium Loan Program, with initial coverage from the Hurricane Reserve Trust Fund.

Authorizes the director of finance to issue up to $ in reimbursable general obligation bonds in four tranches to fund the condominium loan program.
Appropriates funds from the Hurricane Reserve Trust Fund for initial bond payments and debt service.

The exact amount of the bonds and appropriations is not specified, only that it will be 'so much thereof as may be necessary'.
The effective date of July 1, 3000 appears to be an error or placeholder.

Bill History

2026-02-20 H
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Quinlan excused (1).
2026-02-20 H
Reported from CPC (Stand. Com. Rep. No. 756-26) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
2026-02-18 H
The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 9 Ayes: Representative(s) Matayoshi, Grandinetti, Chun, Ilagan, Kong, Marten, Tam, Pierick; Ayes with reservations: Representative(s) Iwamoto; Noes: none; and 2 Excused: Representative(s) Ichiyama, Lowen.
2026-02-13 H
Bill scheduled for decision making on Wednesday, 02-18-26 2:00PM in conference room 329 VIA VIDEOCONFERENCE.
2026-02-10 H
The committee(s) on CPC recommend(s) that the measure be deferred.
2026-02-06 H
Bill scheduled to be heard by CPC on Tuesday, 02-10-26 2:00PM in House conference room 329 VIA VIDEOCONFERENCE.
2026-01-26 H
Referred to CPC, FIN, referral sheet 1
2026-01-21 H
Introduced and Pass First Reading.
2026-01-14 H
Prefiled.

Official Summary Text

RELATING TO CONDOMINIUMS.
Condominiums; Property Insurance; Condominium Loan Program; Reimbursable General Obligation Bonds; Appropriation ($)
Authorizes the issuance of reimbursable general obligation bonds in four tranches to provide the necessary funds for the Condominium Loan Program. Appropriates funds from the Hurricane Reserve Trust Fund to provide initial coverage of the bond payments. Effective 7/1/3000. (HD1)

Current Bill Text

Read the full stored bill text

HB1513

HOUSE OF REPRESENTATIVES

H.B. NO.

1513

THIRTY-THIRD LEGISLATURE, 2026

STATE OF HAWAII

A BILL FOR AN ACT

relating
to condominiums
.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

����
SECTION
1.
�
The legislature finds that Act 296,
Session Laws of Hawaii 2025 (Act 296), established the condominium loan program
to provide qualified condominium associations with low-cost financing, or
refinancing for loans previously obtained, for maintenance or repair
projects.
�
Act 296 further authorized the
issuance of $20,000,000 in general obligation bonds to capitalize the
condominium loan program.

����
The
legislature further finds that additional capital is necessary to meet the demands
of the condominium loan program.

����
The
purpose of this Act is to provide further funding for the condominium loan
program.

����
SECTION
2.
�
The director of finance is authorized
to issue reimbursable general obligation bonds in the sum of $100,000,000 or so
much thereof as may be necessary and the same sum or so much thereof as may be
necessary is appropriated for fiscal year 2026-2027 for deposit into the
condominium loan revolving fund.

����
SECTION
3.
�
There is appropriated out of the
condominium loan revolving fund the sum of $100,000,000 or so much thereof as
may be necessary for fiscal year 2026-2027 to implement the condominium loan
program.

����
The sum
appropriated shall be expended by the Hawaii green infrastructure authority, on
behalf of the department of business, economic development, and tourism, to
carry out the purposes of this Act; provided that the director of business,
economic development, and tourism, upon the director's determination that it is
advisable to transfer funds from the condominium loan revolving fund, shall
reimburse the general fund from principal and interest payments collected on
loans issued by the authority, and any other funds available to the authority,
for payment of debt service on reimbursable general obligation bonds authorized
and issued under section 2 of this Act.

����
SECTION
4.
�
There is appropriated out of the hurricane
reserve trust fund the sum of
$ or so much
thereof as may be necessary for fiscal year 2026-2027 for deposit into the
condominium loan revolving fund.

����
The sum
appropriated shall be expended by the Hawaii green infrastructure authority, on
behalf of the director of business, economic development, and tourism, for
payment of debt service on reimbursable general obligation bonds authorized and
issued under section 2 of this Act.

����
SECTION 5.
�
This Act shall take effect on July 1, 2026.

INTRODUCED BY:

_____________________________

Report Title:

Condominiums;
Property Insurance; Condominium Loan Program; Reimbursable General Obligation
Bonds; Appropriation

Description:

Authorizes
the issuance of reimbursable general obligation bonds to provide the necessary
funds for the Condominium Loan Program.
�

Appropriates funds from the Hurricane Reserve Trust Fund to provide
initial coverage of the bond payments.

The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.