STAND. COM. REP. NO. 138

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 202
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Government Operations and Housing, to
which was referred S.B. No. 202 entitled: 

     "A BILL FOR AN ACT AUTHORIZING THE ISSUANCE OF GENERAL
     OBLIGATION BONDS AND MAKING AN APPROPRIATION FOR THE RENTAL
     HOUSING TRUST FUND,"

begs leave to report as follows:

     The purpose of this measure is to issue $20,000,000 in
general obligation bonds and appropriate the funds to the rental
housing trust fund.

     Testimony in support of this measure was received from the
Office of the Governor, the Housing and Community Development
Corporation of Hawaii, Affordable Housing Alliance, American
Association of Retired Persons, Catholic Charities, the Institute
for Human Services, Legal Aid Society of Hawaii, thirty tenants
of McCully Circle, and seven individuals.

     Your Committee finds that additional funding for the Rental
Housing Trust Fund will provide loans or grants for the
development, pre-development, construction, acquisition,
preservation, and substantial rehabilitation of rental housing
units.  Given the scarcity of funds available for affordable
housing and the high cost of construction in the State, this
program leverages funds to the greatest possible extent. 

     As affirmed by the record of votes of the members of your
Committee on Government Operations and Housing that is attached

 
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                                   STAND. COM. REP. NO. 138
                                   Page 2


to this report, your Committee is in accord with the intent and
purpose of S.B. No. 202 and recommends that it pass Second
Reading and be referred to the Committee on Ways and Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Government
                                   Operations and Housing,



                                   ______________________________
                                   ROD TAM, Chair

 
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