STAND. COM. REP. NO.  515

Honolulu, Hawaii

                , 2009

RE:   H.B. No. 1592

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred H.B. No. 1592 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

     The purpose of this bill is to establish under the Hawaii Housing Finance and Development Corporation (HHFDC) a program for the leveraging of union financing for affordable housing projects.

     HHFDC testified in opposition to this bill.  The Department of Budget and Finance and Department of the Attorney General provided comments.

     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1592 and recommends that it pass Second Reading and be referred to the Committee on Finance.

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

____________________________

RIDA CABANILLA, Chair