Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2928 entitled:

begs leave to report as follows:

The purpose of this measure is to repeal the Rental Housing Trust Fund Advisory Commission (Advisory Commission).

The measure also converts the Housing and Community Development Corporation of Hawaii Board of Director position currently filled by the Chair of the Commission to an at-large position.

Your Committee finds that the Commission's role is to advise and inform the Housing and Community Development Corporation of Hawaii (Corporation) on matters concerning the administration of the Rental Housing Trust Fund (Fund). Administrative responsibility for the Fund, however, rests with the Corporation. Consequently, housing developers seeking Fund loan approvals must make presentations to both the Commission and the Corporation. This measure eliminates this redundancy and waste of resources by repealing the Advisory Commission.

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 S.B. No. 2928 and recommends that it pass Third Reading.