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Council postpones measure to expand long‑term rental dedication incentives and raise income eligibility
Summary
Bill 63, which would raise the maximum income threshold for properties dedicated to affordable long‑term rental use from 80% AMI to 100% AMI and remove a purchase‑price threshold, was amended to a hand‑carried CD1 and then postponed for further stakeholder consultation.
The Budget Committee on Oct. 14 received an explanation of Bill 63 (and a hand‑carried CD1) from sponsor Councilmember Kiaʻāina and then voted to postpone action to allow additional stakeholder consultation and department review.
Bill 63 would change the current dedicated affordable rental program in two principal ways: increase the income threshold for maximum monthly rental rates from 80% of Area Median Income (AMI) to 100% AMI, and remove a requirement that a dedicated property’s purchase price be below a fixed threshold (previously used to limit eligible properties). Sponsor Kiaʻāina said that the program has seen little use in the past decade and that the proposed changes are designed to increase take‑up among owners of second homes who might make inventory available to local families.
Kiaʻāina supplied example maximum monthly rents at the 100% AMI ceiling that would apply to dedications (studio up to $2,660; four‑bed up to $4,410) to show the program’s affordability limits. Department of Budget and Fiscal Services Director Andy Kawano said the department has worked with the sponsor on technical edits and had no substantive objections to the CD1; Kawano and sponsor agreed more stakeholder outreach is appropriate.
The committee accepted the CD1 as hand‑carried and then the chair recommended postponing action to a future date so stakeholders and departments can review the changes and the potential impact on housing supply and tax treatment.
