STAND. COM. REP. NO. 587

Honolulu, Hawaii

RE:    S.B. No. 1290

       S.D. 1

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B. No. 1290 entitled:

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

begs leave to report as follows:

     The purpose and intent of this measure is to increase the limit that the Department of Hawaiian Home Lands is authorized to borrow or guarantee to cover the Department's guarantee requirements for its housing program.

     Your Committee received written comments in support of this measure from Kalbert K. Young, Director, Department of Budget and Finance.

     Your Committee finds that increasing the amount that the Department is authorized to borrow or guarantee will allow the Department to increase construction of affordable homes, thereby increasing housing stock for native Hawaiian beneficiaries, while concomitantly creating jobs and infusing money into the State's economy.

     Your Committee has amended this measure by:

     (1)  Changing the limit that the Department is authorized to borrow or guarantee to an unspecified sum;

     (2)  Changing the effective date to July 1, 2050, to facilitate further discussion on the issue; and

     (3)  Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1290, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1290, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

DAVID Y. IGE, Chair