STAND

STAND. COM. REP. NO. 2870

Honolulu, Hawaii

RE: S.B. No. 2229

S.D. 2

Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2006

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 2229, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TEACHERS' HOUSING,"

begs leave to report as follows:

The purpose of this measure is to expand the teacher housing program that is to be prospectively administered by the Department of Education beginning on July 1, 2006.

Specifically, the measure:

(1) Clarifies that, to qualify for the teacher housing program, the teacher must be assigned and employed by the Department of Education;

(2) Establishes that the unexpended proceeds of general obligation bonds issued for the purpose of constructing teacher housing, housing rental payments received by the State from public school teachers, and moneys received from the repayment of teacher housing downpayment loans are to be deposited into the teachers' housing revolving fund;

(3) Expands the uses of the teachers' housing revolving fund to include the financing and repair of teachers' housing; and

(4) Establishes a teacher downpayment loan program that includes loan qualification, borrower restriction, and default provisions.

Your Committee has amended the measure by:

(1) Replacing the phrase "repayment loan" with the phrase "downpayment loan" on page 5, line 15, to conform the phrase to the rest of the references in the measure;

(2) Changing the effective date from July 1, 2006, to July 1, 2050; and

(3) Making technical nonsubstantive amendments for the purposes of clarity and style.

Your Committee believes that the measure will assist the Department of Education in its efforts to attract and retain qualified teachers.

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. 2229, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2229, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

		____________________________ BRIAN T. TANIGUCHI, Chair