HOUSE OF REPRESENTATIVES	H.B. NO.	1731
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII

A BILL FOR AN ACT

relating to hawaiian home lands.

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

SECTION 1. The legislature finds that more Native Hawaiians currently live on the continental United States than in Hawaii, in large part due to the cost of housing. Financial hurdles to homeownership, such as the need for a down payment on a mortgage, make it a challenge for individuals to purchase properties. Accordingly, the purpose of this Act is to exclude the down payment requirement for any mortgage on lands under the jurisdiction of the department of Hawaiian home lands.

SECTION 2. The Hawaiian Homes Commission Act, 1920, as amended, is amended by adding a new section to be appropriately designated and to read as follows:

"§ Down payments prohibited. Notwithstanding any law to the contrary, within lands under department of Hawaiian home lands jurisdiction, no down payment shall be required for any mortgage."

SECTION 3. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.

SECTION 4. New statutory material is underscored.

SECTION 5. This Act shall take effect on July 1, 2024.

INTRODUCED BY:

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Report Title:

DHHL; Hawaiian Home Lands; Property; Mortgage; Down Payments

Description:

Provides that within lands under Department of Hawaiian Home Lands jurisdiction, no down payment shall be required for any mortgage.

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