STAND. COM. REP. NO.  932-08

Honolulu, Hawaii

                , 2008

RE:   H.B. No. 3058

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 3058 entitled:

"A BILL FOR AN ACT RELATING TO THE HOUSING LOAN AND MORTGAGE PROGRAM,"

begs leave to report as follows:

     The purpose of this bill is to meet increased demand for affordable housing in the state by increasing Hawaii Housing Finance and Development Corporation's (HHFDC) revenue bond authority from $400,000,000 to $500,000,000.

     HHFDC supported this bill.

     Your Committee has amended this bill by changing the effective date to July 1, 2020, to encourage further discussion.

     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. 3058, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 3058, H.D. 1.

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

____________________________

MARCUS R. OSHIRO, Chair