Report Title:

Housing; HHFDC

Description:

Requires the HHFDC to report to the legislature with a list of cost items that impact the high cost of homes in the State.

HOUSE OF REPRESENTATIVES	H.B. NO.	2889
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO HOUSING.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that home prices in Hawaii, due to a variety of cost factors, have risen to a level beyond the reach of many Hawaii families.

     The purpose of this Act is to require the Hawaii housing finance and development corporation to report to the legislature with a list of cost items that impact the cost of homes in the State.

     SECTION 2.  The Hawaii housing finance and development corporation, in conjunction with appropriate state and county agencies and with the assistance of appropriate private sector businesses, shall develop a list of cost items that impact the cost of homes in the State, particularly those encountered by the Hawaii housing finance and development corporation.  The list shall not include land or construction costs but shall examine the costs prior to construction, such as time delays for permit approval and impact fees levied against home developers.

     Costs during construction other than material and labor costs directly attributed to the cost of construction shall exempt from consideration but the corporation shall include any costs imposed by state and county governments that impact the cost of a finished home.  The corporation shall recommend how to alleviate these costs to bring the price of a home within reach of the average Hawaii citizen.

     SECTION 3.  The Hawaii housing finance and development corporation shall report its findings, recommendations, and any suggested legislation to the legislature no later than twenty days before the convening of the regular session of 2009.

     SECTION 4.  This Act shall take effect upon its approval.

INTRODUCED BY:

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