STAND. COM. REP. NO.  866

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 863

      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. 863, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO ESTABLISHING A COUNTY TRANSIT ORIENTED DEVELOPMENT INFRASTRUCTURE REVOLVING FUND,"

begs leave to report as follows:

     The purpose of this bill is to establish a no-interest revolving loan fund to provide loans to the counties for the development and construction of infrastructure projects to expedite the building of transit-oriented development.

     The Department of Planning and Permitting of the City and County of Honolulu, Chamber of Commerce of Hawaii, Building Industry Association of Hawaii, Land Use Research Foundation of Hawaii, and Hawaii Developers' Council supported this bill.  The Department of Budget and Finance opposed 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. 863, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

MARCUS R. OSHIRO, Chair