Washington, DC -- U.S. Representative Neil Abercrombie announced that his legislation reauthorizing the Hawaiian Home Lands Homeownership Act was approved today by the House Finance Services Committee.  The law, which helps provide low-income Native Hawaiian families with the opportunity for homeownership on Hawaiian Home Lands, was originally passed in 2000, and will be extended through 2012.  The housing program is administrated by the Department of Hawaiian Homelands (DHHL).

"This is aimed at ensuring that Native Hawaiians have a real opportunity to share in the dream of home ownership," said Abercrombie.  "The legislation both acknowledges their housing needs and establishes a mechanism to address those needs."

The legislation reauthorizes the U.S. Department of Housing and Urban Development (HUD) to provide block grants for affordable housing to Native Hawaiians, and reauthorizes HUD home loan guarantees for Native Hawaiians whose incomes are equal to or less than 80 percent of the median income.  Eligible borrowers include Native Hawaiian families, the Department of Hawaiian Home Lands, the Office of Hawaiian Affairs and private nonprofit organizations experienced in planning and developing affordable housing for Native Hawaiians.

Abercrombie's legislation also adds provisions for loan guarantees for home mortgage refinancing, and permits the Department of Hawaiian Home Lands to issue bonds.

In 2006, the Native Hawaiian housing block grants provided $8.7 million for affordable housing, and $891,000 was allotted for housing loan guarantees.

The bill will go next to the full House for a vote, but no schedule has yet been announced.

-30-