Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred H.B. No. 78, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to authorize the Housing and Community Development Corporation of Hawaii to establish and maintain special fund accounts outside of the state treasury, which are to be used for federal housing programs.

Your Committee finds that the Corporation's predecessor agency, the Hawaii Housing Authority, was authorized to establish accounts that were outside of the state treasury. This allowed the Authority to expeditiously process funds from the federal government for a variety of programs to local recipients. This authority, however, was not transferred to the Corporation at the time of its inception.

This bill reestablishes that authority to allow the Housing and Community Development Corporation of Hawaii to distribute federal funds more efficiently to ultimately better serve its clientele.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 78, H.D. 1, and recommends that it pass Third Reading.