Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 546 entitled:

begs leave to report as follows:

The purpose of this bill is to allow "owner-builders" to use the value of sweat equity to be applied toward downpayment for their homes under the Downpayment Loan Program.

The Housing and Community Development Corporation of Hawaii testified in support of this bill.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 546 and recommends that it pass Third Reading.