STAND. COM. REP. NO. 252

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1017
                                     




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Human Services and Housing, to which was
referred H.B. No. 1017 entitled: 

     "A BILL FOR AN ACT RELATING TO THE HOUSING LOAN AND MORTGAGE
     PROGRAM,"

begs leave to report as follows:

     The purpose of this bill is to authorize the Housing and
Community Development Corporation of Hawaii (HCDCH) to issue an
additional $500,000,000 in tax-exempt revenue bonds for the Hula
Mae Single Family Mortgage Purchase Program.

     HCDCH submitted testimony in support of this measure.

     Your Committee finds that this measure further assists
Hawaii's low and moderate income families to purchase their first
homes.

     As affirmed by the record of votes of the members of your
Committee on Human Services and Housing that is attached to this
report, your Committee is in accord with the intent and purpose
of H.B. No. 1017 and recommends that it pass Second Reading and
be referred to the Committee on Finance.


 
 
 
 
 
 
 
                                 STAND. COM. REP. NO. 252
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Human Services
                                   and Housing,



                                   ______________________________
                                   DENNIS A. ARAKAKI, Chair