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Senate advances consolidated condominium loan vehicle; multiple condominium bills heard and several deferred
Summary
Senators passed an amended SB 744 to incorporate the broader framework of SB 1601 for a condominium loan program and noted an initial appropriation figure; the committee deferred further decision making on SB 1601 and several related condominium governance measures for additional work and outreach.
Senators on joint committees voted to pass SB 744 with amendments that insert the contents of SB 1601 — a more comprehensive condominium loan and credit enhancement framework administered by the Hawaii Green Infrastructure Authority (HGIA) — and deferred several related condominium measures for further work.
At the Feb. 5, 2025, hearing, the Hawaii Green Infrastructure Authority (HGIA) and the Hawaii Bankers Association offered support and comments. HGIA testified that it has received roughly a dozen condominium applications or referrals and estimated the average project need could be in the $5.5 million range, with some…
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