SB865 establishes the Ninety-Nine Year Leasehold Program to develop low-cost residential condominium units on state-owned and county-owned land in urban redevelopment sites to be sold in leasehold by the Hawaii Community Development Authority to qualified residents.
The Hawaii State House of Representatives passed SB865 on May 4, 2023 by a vote of 42 to 7. We have assigned pluses to the nays because this bill represents unwarranted government interference in the free market. This government-subsidized housing program unfairly benefits a specific segment of the population, effectively picking winners and losers. Moreover, it represents a step towards socialism, as it misuses taxpayer dollars to fund subsidized housing, undermining market-driven solutions and fiscal responsibility.