STAND. COM. REP. NO. 300

Honolulu, Hawaii

RE:    S.B. No. 1402

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Madam:

     Your Committee on Commerce, Consumer Protection, and Affordable Housing, to which was referred S.B. No. 1402 entitled:

"A BILL FOR AN ACT RELATING TO THE LOSS MITIGATION GRANT FUND,"

begs leave to report as follows:

     The purpose of this measure is to release $2,000,000 for fiscal year 2007-2008 from the Loss Mitigation Grant Fund to provide grants for wind resistive devices.

     Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs and the Hawaii Lumber Products Association.  Comments were submitted by the State Department of Defense on this measure.

     Your Committee finds that, based on the testimony provided, this Administration Package measure will provide grants to single and multi-family residential owners and former policyholders of the Hawaii Hurricane Relief Fund for the installation of wind resistive devices to reduce losses resulting from a wind hazard.  Previous appropriations made out of the Loss Mitigation Grant Fund lapsed and it is necessary to appropriate moneys out of the fund for the 2007-2008 fiscal year to continue this important program.

     As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection, and Affordable Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1402 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection, and Affordable Housing,

____________________________

BRIAN T. TANIGUCHI, Chair