STAND. COM. REP. NO.1144-02
Honolulu, Hawaii
, 2002
RE: S.B. No. 2708
S.D. 1
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Sir:
Your Committee on Finance, to which was referred S.B. No. 2708, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF HAWAII,"
begs leave to report as follows:
The purpose of this bill is to enable affordable housing projects to be competitive in the current real estate market by allowing the Housing and Community Development Corporation of Hawaii (HCDCH) to waive the statutory three-year buyback and use restriction provisions until December 31, 2004.
HCDCH testified in support of this measure.
Your Committee has amended this bill by:
(1) Removing the HCDCH waiver authorization and its repeal date from the statutes and placing them in the Session Laws;
(2) Replacing the provision repealing the statutory amendments on December 31, 2004, and providing for reenactment of the statutes, with a provision repealing the Act on December 31, 2004; and
(3) Making other technical, nonsubstantive amendments to correct drafting errors.
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 S.B. No. 2708, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2708, S.D. 1,
H.D. 1.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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