Transcript Highlights:

• That local loan servicing...
• has for loans per FTE.
• home, so we’re not seeing any payoffs.
• They don't have to be a first-time home buyer, but they can get into that home quicker as a single parent
• And then when it comes time to sell the home, the home must be sold at market value or appraised value

Keywords: 908, all

Summary: The committee met as the Regulatory Division of the budget section and received updates on several Industrial Commission-related agencies and programs. Legislative Council first reviewed base budget materials, then the North Dakota Housing Finance Agency reported on its current appropriation and staffing, noting that its new FTEs were being filled gradually and that it remained largely funded through special and federal funds. Agency leaders described homeownership lending, loan servicing, and housing incentive fund activity, including below-market mortgage rates, down payment assistance, and a growing servicing portfolio that has increased workload but not yet required additional FTEs. Housing Finance also detailed use of the Housing Incentive Fund and homeless grant dollars. Officials said the multifamily HIF round drew more than $73 million in requests and awarded $25 million, while the single-family program supported rural development and community land trusts. Homeless grant funding was split between emergency shelter, prevention, and rapid rehousing, with performance-based scoring used to renew or reallocate awards. Members discussed housing affordability, aging households, rental assistance, and the need to coordinate housing and site-preparation messaging with Commerce. The agency asked that HIF, single-family, and homeless funding be maintained or increased in the next session. The Department of Mineral Resources then presented its budget and operations update. Staff said the agency was on track financially, had filled most of its new reclamation FTEs, and was not expecting major litigation costs beyond normal late-biennium invoices. The director reviewed agency initiatives including Project North Star IT modernization, organizational restructuring, succession planning, rulemaking, and implementation of the development incentive well tax program and critical minerals rules. He also discussed oil and gas activity, explaining that longer laterals, especially three- and four-mile wells and the first five-mile spacing case, are helping keep production relatively flat even as rig counts ease. Members asked about gas capture, hedging, break-even prices, and the effects of Iran and Venezuela on oil markets. The committee also heard about enhanced oil recovery grants and the Pipeline Authority. The EOR program’s $25 million appropriation was fully allocated to six projects, with total awards reaching about $45.1 million when other fund balances were included, subject to a possible 5% reduction if federal DOE money does not materialize. Officials said the projects are public, reimbursement-based, and will produce results over the next several years. Finally, the Pipeline Authority outlined natural gas transmission projects, including the imminent Bakken Express line and the proposed Bakken East project, which WBI was selected to advance after an Industrial Commission RFI process. The project is moving through open season, survey permission, and regulatory work, with in-service dates projected for 2029 and 2030.

Transcript Highlights:

• 41 home sales per year.
• And on those loans, we're averaging at 50%.
• It has created four public financial institutions, such as the Federal Home Loan Banking System, the
• Loan programs that actually built the federal highway system.
• As a bank, you can only loan out what you have. You give it a dollar, it can loan out 90 cents.

Summary: The committee first received a JLARC work session on the 2025 tax preference performance reviews, covering nine tax preferences and recommending legislative action on eight. JLARC reviewed natural gas transportation fuel preferences, travel agent and tour operator B&O rates, a property tax exemption for nonprofit low-income housing developers, and several shorter reviews including senior center property tax relief, a disabled veteran adapted housing remittance, trade convention nexus treatment, wholesale sales of fertilizer/pesticides/seed, a hazardous substance tax exemption for pesticides stored for out-of-state shipment, and three energy-related preferences for a silicon smelter. JLARC generally recommended continuing preferences that met stated or inferred objectives, modifying some to improve reporting or performance metrics, and allowing the unused silicon smelter preferences to expire. The Citizen Commission endorsed JLARC’s recommendations, and committee members asked a few clarifying questions, including about trends in travel agent/tour operator beneficiaries and the housing exemption’s performance metric and data issues. The committee then heard a work session and public hearing on Senate Bill 5754, which would create a Washington State public bank. A presentation from California public banking advocates and the Bank of North Dakota described public banks as government-owned financial institutions intended to keep public funds working locally, support lending for housing, infrastructure, and community development, and partner with community banks and credit unions. Committee questions focused on leverage, liquidity, constitutional issues, and how the model would interact with existing state investment and debt structures. Staff summarized the bill’s structure, including activation conditions, governance, powers, and fiscal impacts, noting the fiscal note was largely indeterminate and startup costs could be significant. Public testimony on SB 5754 was divided. Supporters included statewide elected officials, county and city officials, labor, educators, community advocates, and residents, who argued the bank could lower borrowing costs, improve access to capital, keep public money in Washington, and help finance infrastructure, housing, and disaster resilience. Opponents included community bankers and county treasurers, who warned about risks to safety and liquidity of public funds, questioned the need for a new institution given existing programs, and argued the proposal lacked a proven track record in Washington. The hearing concluded with no vote taken in the transcript.

Transcript Highlights:

• Then we underwrite the loan.
• Then we underwrite the loan.
• </c><00:48:04.400><c> is</c> by our loan committee then the loan is by our loan committee then the loan
• the loan program and starting a the loan the loan program and starting a business<01:31:07.679><c> and
• </c> to collect on on those loans? to collect on on those loans?

Keywords: 1183, house

Transcript Highlights:

• larger homes.
• upon sale of the home.
• So my home was bought with a VA loan, nothing down.
• that those homes are, those loans help to make that new home affordable.
• Also ensuring that those homes are, those loans help to make that new home affordable to buyers under

Keywords: 996, all

Transcript Highlights:

• Do I need to take out a loan?
• It creates better loan performance.
• their homes.
• Because if those loans are not eligible for this relief... ...loans are not, you know, eligible for this
• that live in those homes, right?

Keywords: 988, house, all

Transcript Highlights:

• and loan terms established by the lender.
• So, in this, there's kind of like all home improvements, right?
• But it does have to be this specific home solicitation sale.
• products—not just home improvement loan products—and then also the dealer fee, which you addressed,
• They effectuate the loan themselves on their own device.

Keywords: 988, house, all

Transcript Highlights:

• President, Senator, the loan is loaned until the whole home is sold, at which point it's returned to
• The loan is made to the homebuyer, and they purchase the home.
• But you said the home reverts back to the home? No, Mr. President. Sorry, I said the loan.
• President, Senator, once the home is sold, then the loan must go back to this loan fund, which is a revolving
• loan fund.

Bills: SB273, SB37, SB100

Keywords: SB273, appropriations, general fund, hold harmless, local government finance, municipal revenue, county revenue, correctional facility, jail contract, private prison, detention facility, immigration detention, revenue bonds, clawback, child welfare, juvenile justice, protective services, school improvement, New MexiCare, aging services

Summary: The Senate convened on the 30th day of the 2026 session, established a quorum, heard an invocation from Chaplain Harry Eberts, and received several announcements and House messages. The chamber then took up multiple concurrence and third-reading items, including Senate Bill 273, Senate Bill 37, Senate Bill 100, Senate Bill 41, House Bill 34, House Bill 20, House Bill 43, House Bill 38, and House Bill 256. The body also heard that House Joint Memorial 2 was moved from the President’s table to the calendar, and later received messages from the House on several other Senate and House measures. The most contentious action was concurrence on Senate Bill 273, which concerns correction facility loss of revenue for counties affected by the loss of ICE detainees. Senators debated the economic impact on Torrance, Otero, and Cibola counties, with supporters arguing the bill provided partial relief and critics saying it did not come close to replacing lost jobs and revenue. The Senate ultimately concurred with the House amendments by a vote of 22-18. On Senate Bill 100, which would have expanded burglary-related definitions to include an “extension of a dwelling,” several senators argued the House language was too broad and legally vague, and the Senate voted not to concur, sending the bill back to the House. Senate Bill 41, with a technical correction and addition of second-degree criminal sexual penetration, was concurred with by voice vote. Among the bills passed on third reading, House Bill 34 updated school nurse licensure rules and supervision pathways and passed 38-0. House Bill 43, a PERA cleanup bill, clarified retirement and survivor-benefit provisions, and passed 39-0 after questions about whether it affected PERA’s unfunded liability; sponsors said it did not. House Bill 38 expanded insurance coverage for powered mobility devices and prosthetics, including coverage for batteries and in-state provider requirements, and passed 38-0. House Bill 256 expanded cardiac emergency response planning and AED requirements to athletic activities and schools, including private schools on a phased-in basis, and was debated over cost and scope before passing. House Bill 20, which would allow Native American designation on driver’s licenses and IDs, prompted extended discussion about tribal support, documentation, and possible profiling concerns; the transcript cuts off before final disposition of that bill.

Transcript Highlights:

• We also manage a fourth bond program, the Home Modification Loan Program, in collaboration with MassAbility
• We also manage a fourth bond program, the Home Modification Loan Program, in collaboration with Mass
• That $1.3 billion breaks down as approximately 10,500 home mortgage loans, representing about $3.1 billion
• The Energy Saver Home Loan Program is MCCB’s first consumer product, which launched approximately a year
• Home Center.

Keywords: 995, all

Summary: The Joint Committee on Housing opened its second hearing of the session with remarks from Chairs Haggerty and Cyr emphasizing that the hearing was a broad look at Massachusetts’ housing crisis rather than a single bill. They highlighted topics including zoning, permitting, rental assistance, public housing, homelessness prevention, and housing production. The first witness, Housing and Livable Communities Secretary Augustus, reviewed implementation of the Affordable Homes Act and the state’s new housing plan, citing a 1.6% vacancy rate, a projected need for 222,000 new homes over 10 years, and ongoing efforts such as ADUs by right, fair housing enforcement, eviction record sealing, seasonal communities planning, and new funding for affordable housing, public housing, and the Momentum Fund. He also discussed infrastructure support for municipalities, technical assistance for ADUs, and concerns about possible federal funding cuts. Committee members questioned the secretary about ADU financing and technical assistance, the likely unit yield from the Affordable Homes Act, infrastructure barriers in suburban and rural communities, public housing waitlist management, supportive housing, and federal budget risks. MassNAHRO then testified that public housing authorities are facing rising operating and capital costs, a statewide waitlist nearing 300,000, and uncertainty over federal Section 8 and HUD funding. Witnesses described recent state support for operating subsidies, capital improvements, vacancy turnover teams, and resident service coordinators, while warning that proposed federal cuts could sharply affect voucher issuance and agency operations. CDAC’s executive director Roger Herzog described the agency’s role as a quasi-public source of early-stage financing and technical assistance for nonprofit housing developers, noting its loan capital, supportive housing bond programs, home modification loans, and preservation work under Chapter 40T. He said CDAC has helped produce or preserve more than 55,000 units and stressed the importance of patient capital and preservation tools. CHAPA CEO Rachel Heller urged the committee to focus on production, preservation, planning, and political will, supporting goals for affordability, supportive housing, and homeownership, and endorsing policy changes such as YIGBY, clearer site plan review rules, stronger fair housing funding, and more support for vouchers and public housing. MassHousing then outlined its financing role, including mortgage lending, down payment assistance, the Community Climate Bank, and the Momentum Fund, while noting that permitting delays, capital gaps, and possible federal changes could affect production. Members also asked about transparency, prevailing wage compliance, and a recent internal restructuring related to diversity and business engagement.

Transcript Highlights:

• to new home builders and home buyers.
• President, Senator, the loan is loaned until the whole home is sold, at which point it's returned to
• The loan is made to the homebuyer, and they purchase the home.
• But you said the home reverts back to the state. No, Mr. President. Sorry, I said the loan.
• President, Senator, once the home is sold, then the loan must go back to this loan fund, which is a revolving

Bills: SB273, SB37, SB100

Keywords: SB273, appropriations, general fund, hold harmless, local government finance, municipal revenue, county revenue, correctional facility, jail contract, private prison, detention facility, immigration detention, revenue bonds, clawback, child welfare, juvenile justice, protective services, school improvement, New MexiCare, aging services

Transcript Highlights:

• that home.
• And the beauty of loan financing is that when the loan cycle is over—if we have a five-year loan cycle
• of my home.
• that one home.
• for $1 in a loan loss reserve for low-interest loans.

Keywords: 988, house, all

Transcript Highlights:

• As you're aware, when we do a mortgage loan, our industry uses the home as collateral.
• As you're aware, when we do a mortgage loan, our industry uses the home as collateral.
• As you're aware, when we do a mortgage loan, our industry uses the home as collateral.
• As you're aware, when we do a mortgage loan, our industry uses the home as collateral.
• As you're aware, when we do a mortgage loan, our industry uses the home as collateral.

Keywords: 1183, house

Transcript Highlights:

• Is it a loan?
• The payoff of that loan will end in June, and so we won't be pulling any money off of this loan until
• This loan, this specific $4.7 million, what are you using those loan proceeds for?
• The payoff of that loan will.
• This loan, this specific $4.7 million, what are you using those loan proceeds for?

Summary: The committee met with a quorum, opened with a prayer recognizing the death of Reverend Jesse Jackson, and then worked through a series of appropriation and transfer requests. In Section B, it approved a $273,000 temporary appropriation for the Department of Labor and Licensing. In Section C, it approved two Infrastructure Investment and Jobs Act requests: $280 million for the Department of Transportation and $195 million for the State Broadband Office to support Arkansas BEAD broadband grants, including an extra help position. Members questioned the broadband awards, provider amendments, buildout timelines, accountability, and the status of unawarded locations; the broadband director said no provider had requested speed changes, awards would be monitored with milestone-based payments, and remaining locations would be addressed later as federal guidance is received. The committee also approved transfers in Section D, including $458,000 for the Department of Correction, $25 million for Department of Education programs such as declining enrollment and teacher incentive funding, and $229,000 for Shared Administrative Services project management support. In Section E, the committee considered a $4.7 million budget stabilization trust fund loan for the Office of State Technology to implement ServiceNow and related IT modernization, cybersecurity, and governance tools. Members pressed agency officials on repayment, cost savings, and whether the loan would simply roll over existing costs; officials said repayment would come through agency rates over a five-year period and that the new payment would be lower than the current loan being retired. The committee voted to give favorable advice to the Governor on the loan request. In Section F, the committee reviewed cash fund requests for wage and hour claims, unclaimed property, and a heritage grant; in Section G, it reviewed a $1.1 million federal grant to expand college and career coaching in rural districts; in Section H, it reviewed pay plan and performance fund requests totaling millions across multiple agencies; and in Section I, it reviewed budget manual formatting changes. The latter part of the meeting focused on reports, especially the Medicaid trust fund. DHS and DFA officials reported the fund balance had declined from prior years and was down to about $394 million after seven months, with further decline expected by year-end. Senators and representatives asked about the appropriate reserve level, the impact of pending Medicaid rules and legislation, FMAP changes, and whether additional funding would be needed in the upcoming budget. Officials said projections are updated regularly, more than 10 rule packages remain pending with CMS, and the governor and legislative leaders will discuss additional capital needs during budget development. Members also discussed the importance of balancing Medicaid spending with new federal funding and maintaining flexibility for critical areas such as labor and delivery. The committee then adjourned without further action on the reports.

Transcript Highlights:

• She explained that the New Hampshire Community Loan Fund is a nonprofit lender that provides loans to
• homes.
• </c> from the New Hampshire Community Loan from the New Hampshire Community Loan Fund<00:58:20.160><c
• provides loans to nonprofit lender that provides loans to individuals<00:58:47.680><c> and</c><00:58
• > under</c><01:05:02.760><c> this</c> loan guar loans guaranteed under this loan guar loans guaranteed

Keywords: 1191, senate, all

Transcript Highlights:

• California is home to more than 140,000 military retirees.
• California is home to more than 140,000 military retirees.
• And I told them that I don't think this is just your first home; I think this is your forever home, and
• you will build a very large family in this home.
• homes and the surrounding properties.

Summary: The Assembly Committee on Revenue and Taxation held its second regular hearing of the 2025-26 session and announced that, under reinstated suspense-file rules, every bill on the agenda would be referred to suspense rather than voted on immediately. The committee first heard AB 53, which would create a state income tax exemption of up to $20,000 for military retirees and certain survivor benefits. Supporters, including veterans’ groups, military retirees, and local officials, argued California is the only state taxing military retirement pay in full and that the exemption would help retain veterans and their families. Committee members voiced strong support, but the bill was sent to suspense. The committee then heard several wildfire-related tax relief bills. AB 429 would exempt certain wildfire settlement payments from gross income for victims of fires from 2020 through 2026; the author and a Greenville fire victim described the burden of taxing settlement funds, and rural county and forestry groups supported the measure. AB 97 proposed similar relief for Bobcat Fire settlement payments, and AB 389 would create a personal income tax credit for home-hardening expenses in high fire-risk areas, with Cal Fire and realtor representatives supporting the bill as a way to reduce future losses. Each of these measures drew no formal opposition in the hearing and was referred to suspense. AB 386 would create a tax credit for employers that help full-time employees repay student loans, up to $3,000 per employee per year. Supporters said it would help recruit and retain workers and reduce student debt burdens, while the California Tax Reform Association opposed the bill because it lacked allocation criteria and would reduce General Fund and education revenues. Committee members expressed interest but asked for clearer eligibility standards, and the bill was sent to suspense. AB 490 would allow a deduction for interest paid on qualified personal vehicle loans; the author framed it as relief for families dependent on cars, but opposition again came from the tax reform group, which argued the deduction would mainly benefit higher-income taxpayers. The bill also went to suspense. The committee also heard AB 547, which would create a tax credit of up to $5,000 for IVF and other fertility-treatment expenses. The author and a witness who described a long and costly IVF journey said the credit would help families afford treatment and support parenthood; members responded sympathetically and asked why the proposal was structured as a tax credit rather than a health coverage mandate. Finally, AB 330 would extend the prepaid mobile telephony services collection act through 2031, preserving an 80-cent surcharge that supports 911 and local government revenues; local government representatives and cities supported the extension, and it too was referred to suspense. The hearing ended with the committee adjourning after all measures were held for suspense-file consideration.

Transcript Highlights:

• that home.
• And the beauty about loan financing is that when the loan cycle is over, if we have a five-year loan
• And the beauty about loan financing is that when the loan cycle is over, if we have a five-year loan
• Another amazing example is home builder KB Homes.
• for $1 in a loan loss reserve for low-interest loans.

Summary: The Assembly Budget Subcommittee on Climate Crisis, Resources, Energy, and Transportation held an oversight hearing on home hardening and defensible space as wildfire mitigation strategies. The chair opened by stressing that California has reached a tipping point, with repeated community-scale wildfire losses, rising insurance costs, and growing utility wildfire mitigation expenses. The hearing was organized around four panels: what home hardening and defensible space are, community risk reduction and coordination, evaluation of current defensible space programs and proposed investments, and the future of home hardening and the California Wildfire Mitigation Program. The first panel featured IBHS, the Legislative Analyst’s Office, and local wildfire mitigation advocates. IBHS described wildfire spread through embers, flames, and radiant heat, emphasizing that structure separation, removing combustible materials within the first five feet of a home, and combining multiple mitigation measures significantly reduce loss. It highlighted its Wildfire Prepared Home and Wildfire Prepared Neighborhood standards, including an “essential” and “enhanced” level, and said California is ahead of other states but still needs scalable, standardized, and sustainably funded mitigation. The LAO outlined key policy questions for the Legislature, including the state’s role, intergovernmental coordination, cost-effectiveness, program design, measurement of success, long-term sustainability, and barriers to implementation. The chair and panelists discussed estimated costs, including roughly $15,000 for a basic retrofit and about $50,000 for more extensive ignition-resistant construction, and whether state funding should focus on the most cost-effective initial measures. The second panel focused on scaling adoption through local coordination, education, financing, and community-based programs. Megafire Action argued that home hardening is a market adoption problem and said the state should not try to pay for every home, but instead target high-leverage interventions across the “customer journey,” including education, financing, trusted certification, and neighborhood network effects. Ventura Regional Fire Safe Council described free home assessments, small retrofit grants, Firewise community support, and the importance of neighborhood-level action, local capacity, and cultural change. Marin Wildfire Prevention Authority described its locally funded model, grant program, public education efforts, and an Ember Ready program that helps residents navigate home hardening and Zone Zero compliance. The chair repeatedly emphasized the need for a coordinated statewide marketing campaign, stronger incentives, better insurance discounts, and more use of local, utility, federal, and private funding sources. The third and fourth panels addressed Cal Fire’s defensible space inspection program, the proposed defensible space financial assistance program, and broader state investments. Cal Fire said homes lacking compliant defensible space are far more likely to be damaged or destroyed and requested ongoing funding and staffing to stabilize inspections statewide; the LAO suggested the Legislature consider alternative funding sources such as GGRF or a reinstated SRA fee. Cal Fire and the State Fire Marshal explained that Zone Zero sets a minimum standard, local governments cannot go below it, and grant prioritization will favor jurisdictions that submit inspections. Cal Fire also said the new defensible space financial assistance program would focus on ember-resistant zone-zero work and, in the Southern California counties covered by the legislation, would assist about 3,125 homes at an estimated $8,000 per home. In the final panel, the State Fire Marshal described California’s layered strategy of parcel-level home hardening, defensible space, and neighborhood-scale mitigation, along with technical support, financial assistance, and incentives such as insurance discounts and builder marketing. The overall theme was that California must move from isolated efforts to a coordinated, science-based, and scalable statewide approach to reduce wildfire losses.

Transcript Highlights:

• </c> consequences of lingering student loan consequences of lingering student loan balances<00:02:01.640
• A certified student loan counselor assists them in gathering loan details and balances.
• </c><00:05:05.240><c> and</c> child or adult child student loans and child or adult child student loans
• For student loan funding, this is specifically for student loan repayment counseling.
• For student loan funding, this is specifically for student loan repayment counseling.

Keywords: 1187, senate, all

Transcript Highlights:

• Independent mortgage companies make over 50% of the mortgage loans in California.
• Access Plus Capital has developed over 2,000 loans totaling $65 million.
• Mortgage banks finance loans through their own credit facilities and then sell those loans to secondary
• The proceeds from selling those loans are recycled into new loans.
• qualifying borrowers into higher cost loans.

Keywords: 988, house, all

Transcript Highlights:

• has for loans per FTE.
• Next graph here is our mortgage loan service.
• Borrowers would not be able to purchase a home.
• They don't have to be a first-time home buyer, but they can get into that home quicker as a single parent
• And then when it comes time to sell the home, the home must be sold at market value or appraised value

Summary: The committee met as the Budget Section’s Regulatory Division and first reviewed base budget materials for the North Dakota Housing Finance Agency and the Department of Mineral Resources. Legislative Council explained the blue-sheet budget summaries and historical funding trends. The Housing Finance Agency then reported on its ongoing homeownership, housing incentive, and homelessness programs, noting that its new FTEs are being filled, loan servicing remains above benchmark, and the agency is operating largely on special and federal funds rather than general fund dollars. Housing Finance officials said the Housing Incentive Fund continues to be heavily oversubscribed, with requests far exceeding available dollars, and described how funds are being used for multifamily gap financing, rural single-family development, community land trusts, and homeless prevention/rapid rehousing. Members asked about performance measures, the number of people served, and the relationship between housing costs, wages, and homelessness. The agency said it uses scoring criteria tied to performance and outcomes, and requested that the Legislature maintain or increase funding for HIF, single-family housing, and homeless grants. Committee members also discussed the need to coordinate housing finance efforts with Commerce and broader site-preparation and workforce issues. The Department of Mineral Resources reported that it is on track with its budget, has filled most of its newly authorized reclamation positions, and is moving ahead on several initiatives, including IT modernization through Project North Star, organizational succession planning, and rulemaking for critical minerals and oil and gas programs. The director gave an extensive update on oil and gas activity, explaining that longer laterals and operational efficiencies are keeping production relatively flat even as rig counts decline, and that gas capture remains around 95 percent. Members asked about oil prices, hedging, spacing units, and the effects of geopolitical events on markets and state revenues. The committee also received an update on the enhanced oil recovery grant program and the Pipeline Authority. The EOR program’s $25 million appropriation was fully allocated to six projects, with additional oil and gas research funds also committed, and officials said the projects will require public status reports and final reports. The Pipeline Authority described major natural gas transmission projects, including the upcoming Bakken Express line and the proposed Bakken East project, which recently completed a binding open season after the Industrial Commission selected WBI Energy’s proposal to move forward.

Transcript Highlights:

• You provided $81.6 million to produce 1,518 homes... ...$81.6 million to produce 1,518 homes.
• I, Chairman and Director, 1% loans. 1% loans, zero default rates. I'd like more detail.
• And on our first-time homebuyer program, 15% of our loans are on manufactured homes.
• No site check of the home.
• and a $350,000 home.

Keywords: 996, all

Transcript Highlights:

• But welcome home. Welcome home, honey. Welcome home. I like being home.
• Welcome home. I like being home. And Welcome home. I like being home.
• Next we have a proposal relating to the Homes Commission Act, more specifically the loan guarantee increase
• And are these loans for home improvements or for stuff like that, or what are the loans primarily used
• </c><01:16:39.199><c> in</c> home ownership and they have a loan in home ownership and they have a loan

Keywords: 910, house, all

Summary: The Act 279 working group met for an informational briefing with DHHL on its use of the $600 million appropriation and progress on the department’s implementation plan. The chair reviewed the working group’s oversight role, noting that it was created to monitor expenditures, project development, and progress toward reducing the Hawaiian Homes waitlist, and that the group must submit a progress report before the 2026 session and a final report before the 2027 session. DHHL said it had provided an updated booklet reflecting the Hawaiian Homes Commission’s February 2024 recommendations and a detailed accounting of encumbrances and project progress across the islands. DHHL highlighted several implementation themes: innovative financing and construction methods, land acquisitions and exchanges, technology, beneficiary services, and partnerships with counties and private entities. The department described a “project lease” model that gives beneficiaries access to a project rather than a specific lot, with options such as turnkey homes, owner-builder, self-help, or rent-to-purchase arrangements depending on financial qualification. Officials said this approach is intended to serve lower-income beneficiaries, expand access for people on the waitlist, and allow beneficiaries to receive support services such as financial literacy and down payment assistance. The department reported that roughly $511 million had been encumbered for infrastructure, about $152.8 million for acquisitions, financing, and beneficiary services, and about $36 million in other covered costs, with about $588.9 million encumbered as of December 31 and about $120 million expected to be spent by that date. Officials said the original implementation plan covered about 2,722 units, while the updated plan projects roughly 6,000 to 7,000 leases and 2,472 lots to be occupied. They also described phase-two needs for additional funding, including projects on Hawaiʻi, Maui, Kauaʻi, and Oʻahu, and said they would need continued legislative support, including possible bonding and private activity bond set-asides, to complete remaining projects. Members discussed the distinction between encumbered and spent funds, and DHHL explained that encumbrances reserve money for specific contracts while construction spending occurs over time through progress payments. The department also showcased examples of innovative projects, including a high-rise project in urban Honolulu financed through a mix of private activity bonds, tax credits, and state funds, and an acquisition-based project in Kapaʻa, Kauaʻi using multiple funding sources. DHHL emphasized partnerships with the City and County of Honolulu and Maui County, and said it is still assessing future projects to keep infrastructure costs manageable and ensure homes are safe and affordable for beneficiaries.