Conference managers approve HP 1740 CD1 tightening buyer eligibility for certain HHFDC projects

Conference committee managers voted to approve HP 1740 HD2 SD2 CD1, a bill that modifies eligibility for an alternate pathway involving Hawaii Housing Finance & Development Corporation projects.

The CD1 described by managers adds several substantive eligibility changes: it allows the alternate pathway when 80% of units in a project are deed‑restricted; it removes a prior prohibition against certain qualified residents owning a majority interest in project land; it imposes an asset‑limit provision that limits total assets and property values relative to the unit being purchased; it requires that buyers own no more than one other property and dispose of that property within two years; and it raises the owner‑occupancy requirement from one year to five years. Managers said the measure would be effective upon approval.

Managers recommended passage of the CD1 with amendments and recorded a managers’ vote in favor. The conference committee recorded multiple “aye” votes from both the House and Senate managers and announced the measure passed. The committee statement did not include recorded nay votes or abstentions. The committee noted it had WAM release and was still awaiting final FIN release on related items before full enactment steps are completed.

What happens next: the managers approved the CD1 and the conference committee will reconvene as needed to secure any outstanding releases (FIN/WAM) required to move the measure further in the process.