Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Human Services and Housing, to which was referred S.B. No. 1021, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to authorize the issuance of revenue bonds up to $30,000,000 and appropriate the moneys for the Rental Housing Trust Fund (RHTF).

The Housing and Community Development Corporation of Hawaii, Special Assistant to the Governor for Housing, RHTF Advisory Commission, City and County of Honolulu, Hawaii Catholic Conference, American Friends Service Committee, Kalihi-Palama Health Center, Institute for Human Services, Inc., Building Industry Association of Hawaii, Affordable Housing and Homeless Alliance, and the Hawaii State Commission on the Status of Women testified in support of this measure.

Your Committee finds that the revenue bonds will provide funds that will enable RHTF to continue to support the development of affordable rental housing. Estimates show that approximately 11,000 affordable rental units will be needed within the next five years. This appropriation will also benefit Hawaii's construction industry, housing developers, and other related businesses, providing a much-needed boost to the economy.

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 S.B. No. 1021, S.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Finance.