STAND. COM. REP. NO.  803

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 1221

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1221 entitled:

"A BILL FOR AN ACT RELATING TO AFFORDABLE HOUSING PROJECTS,"

begs leave to report as follows:

     The purpose of this bill is to stimulate the economy and provide housing for low- and moderate-income families and individuals by making an appropriation for affordable housing projects.

     The Office of Hawaiian Affairs supported this bill.  The Hawaii Housing Finance and Development Corporation submitted comments.

     Your Committee has amended this bill by:

(1)  Authorizing an unspecified amount of general obligation bonds;

(2)  Changing the effective date to July 1, 2020, to encourage further discussion; and

(3)  Making technical, nonsubstantive changes for clarity, consistency, and style.

     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. 1221, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1221, H.D. 1.

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

____________________________

MARCUS R. OSHIRO, Chair