STAND. COM. REP. NO.  1232-12

Honolulu, Hawaii

                , 2012

RE:   S.B. No. 2740

      S.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred S.B. No. 2740, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HOUSING LOAN AND MORTGAGE PROGRAM,"

begs leave to report as follows:

The purpose of this measure is to assist residents in obtaining affordable housing by increasing the Hula Mae multifamily revenue bond authorization ceiling from $500,000,000 to $750,000,000.

The Department of Business, Economic Development, and Tourism; the Hawaii Housing Finance and Development Corporation; the Office of Hawaiian Affairs; The Pacific Resource Partnership; Stanford Carr Development, LLC; the Hawaii Association of REALTORS; and Castle & Cooke Homes Hawaii, Inc. supported this measure.

     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 S.B. No. 2740, S.D. 1, 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 T.R. CABANILLA, Chair