Hawaii lawmakers are proposing legislation to study state laws with the goal of creating a state-owned bank to assist homeowners who are having trouble making their mortgage payments.

Only one other state, North Dakota, has a state-owned bank.

House Bill 326 was introduced by Rep. Marcus Oshiro, D-Wahiawa-Whitmore Village; Rep. Isaac W. Choy, D-Manoa-Moiliili; Rep. Calvin Say, D-St. Louis Heights-Kaimuki; and Rep. Clift Tsuji, D-Hilo-Waiakea. It proposes that several state departments led by the Department of Commerce and Consumer Affairs Division of Financial Institutions study the state's laws and report back to the Legislature before the start of the 2016 and 2017 legislative sessions.

The report would determine the amount of state money needed to be transferred to the state-owned bank, and include legislation to establish a short-term purchase program for residential properties with mortgage problems.