Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Judiciary and Hawaiian Affairs, to which was referred H.B. No. 1413, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to amend the Hawaiian Homes Commission Act to permit private lending institutions to make mortgage loans on Hawaiian home lands that are insured or guaranteed by private mortgage insurance approved by the Commission.

Testimony in support of the measure was submitted by the Department of Hawaiian Home Lands, American Savings Bank, Menehune Development Company, and the State Council of Hawaiian Homestead Associations.

This measure allows private lending institutions to make mortgage loans on Hawaiian home lands provided that the loans are guaranteed by private mortgage insurance. Your Committee finds that this measure will expand the number of private lenders available to offer mortgage financing for Hawaiian home lands.

Your Committee has amended this measure by:

As affirmed by the record of votes of the members of your Committee on Judiciary and Hawaiian Affairs that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1413, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1413, H.D. 1, S.D. 1, and be placed on the calendar for Third Reading.