STAND. COM. REP. NO.  856

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 1007

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1007 entitled:

"A BILL FOR AN ACT RELATING TO FAMILY SELF-SUFFICIENCY,"

begs leave to report as follows:

     The purpose of this bill is to assist households that receive low-income housing assistance in achieving homeownership by exempting their family self-sufficiency escrow accounts from asset tests used to determine eligibility for public benefit programs administered by the Department of Human Services (DHS).

     The Hawaii Alliance for Community-Based Economic Development testified in support of this bill.  DHS supported the intent of this measure.

     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 H.B. No. 1007 and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair