STAND. COM. REP. NO.  872

Honolulu, Hawaii

                , 2011

RE:   H.B. No. 1063

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 1063 entitled:

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

begs leave to report as follows:

     The purpose of this bill is to assist the Department of Hawaiian Home Lands (DHHL) to deliver homesteads and home ownership opportunities to beneficiaries by increasing State's limit of liability for DHHL loans and guarantees, from $50,000,000 to $100,000,000.

     The Department of Budget and Finance, DHHL, and a concerned individual supported this bill.

     Your Committee has amended this bill by:

     (1)  Making unspecified the State's limit of liability;

     (2)  Changing its effective date to July 1, 2030, to encourage further discussion; and

     (3)  Making technical, nonsubstantive amendments 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. 1063, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1063, H.D. 1.

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

____________________________

MARCUS R. OSHIRO, Chair