CONFERENCE COMMITTEE REP. NO. 38

Honolulu, Hawaii

                 , 2011

RE:    S.B. No. 1290

       S.D. 1

       H.D. 2

       C.D. 1

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sirs:

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 1290, S.D. 1, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAIIAN HOMES COMMISSION ACT, 1920, AS AMENDED,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

     The purpose of this measure is to amend from $50,000,000 to an unspecified amount the limit on the amount the Department of Hawaiian Home Lands is currently authorized to borrow or guarantee on loans ("borrow or guarantee limit") in order to cover the Department's repayment guarantee requirements for its housing program.

     Your Committee on Conference notes that, as initially introduced, this measure would raise the borrow or guarantee limit from $50,000,000 to $100,000,000, and enhance the Department's ability to deliver homesteads and home ownership opportunities to beneficiaries.  Current loan guarantees are approximately $30,000,000, with an additional $16,800,000 in loans to be closed over the next six months, bringing the total very close to the current $50,000,000 ceiling.

     Your Committee on Conference has amended this measure accordingly, by:

     (1)  Inserting a borrow or guarantee limit of $100,000,000; and

     (2)  Changing the effective date to July 1, 2011.

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 1290, S.D. 1, H.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1290, S.D. 1, H.D. 2, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE HOUSE

ON THE PART OF THE SENATE

____________________________ FAYE HANOHANO, Co-Chair	____________________________ BRICKWOOD GALUTERIA, Chair
____________________________ MARCUS R. OSHIRO, Co-Chair	____________________________ MICHELLE KIDANI, Co-Chair
	____________________________ GILBERT KAHELE, Co-Chair