STAND. COM. REP. NO.1013
Honolulu, Hawaii
, 2001
RE: S.B. No. 1018
S.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committees on Human Services and Housing and Water and Land Use, to which was referred S.B. No. 1018, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE FEE SIMPLE RESIDENTIAL REVOLVING FUND,"
beg leave to report as follows:
The purpose of this bill is to reduce the costs for lessees who participate in the Housing and Community Development Corporation of Hawaii's (HCDCH) Land Reform Program (Program) by:
(1) Assessing lessees for only direct costs that are related to the processing of their condemnation action;
(2) Requiring that the Fee Simple Residential Revolving Fund (Fund) shall pay for indirect costs incurred by HCDCH in administering the Program; and
(3) Specifying that lessees' deposits collected shall not be deposited into the Fund but rather into interest bearing accounts.
HCDCH testified in support of this measure.
According to HCDCH, due to the success of the Program, the number of participating lessees has diminished over the years. As a result, the lessees' pro rata share of HCDCH's costs and fees have proportionately increased, thereby making participation in the Program cost prohibitive. This measure would reduce costs to lessees.
As affirmed by the records of votes of the members of your Committees on Human Services and Housing and Water and Land Use that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 1018, S.D. 1, and recommend that it pass Second Reading and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committees on Human Services and Housing and Water and Land Use,
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____________________________ EZRA KANOHO, Chair |
____________________________ MICHAEL P. KAHIKINA, Chair |
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