STAND. COM. REP. NO.  66-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2059

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Water & Land, to which was referred H.B. No. 2059 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose of this measure is to provide funding for affordable rental housing in the State by:

     (1)  Adjusting the percentage of conveyance tax revenues that are annually deposited into the Rental Housing Trust Fund;

     (2)  Appropriating an unspecified amount of general revenues for deposit into the Rental Housing Trust Fund; and

     (3)  Appropriating an unspecified amount to the Hawaii Housing Finance and Development Corporation from the Rental Housing Trust Fund.

The Hawaii Housing Finance and Development Corporation, Catholic Charities Hawaii, Hawai‘i Appleseed Center for Law and Equal Justice, the Hawai‘i Association of REALTORS, Rainbow Family 808, PHOCUSED, and Partners in Care submitted testimony in support of this measure.  The Building Industry Association of Hawaii and The Chamber of Commerce of Hawaii submitted testimony in opposition to this measure.  The Tax Foundation of Hawaii submitted comments.

     Your Committee has amended this measure by:

     (1)  Changing its effective date to July 1, 2020, to encourage further discussion; and

     (2)  Making technical, nonsubstantive amendments for the purpose of clarity.

     Your Committee respectfully requests that, if your Committee on Finance chooses to consider this measure, the Committee on Finance consider the effect that this measure will have on the State's overall fiscal status. 

     As affirmed by the record of votes of the members of your Committee on Water & Land that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2059, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2059, H.D. 1, and be referred to the Committee on Housing.

Respectfully submitted on behalf of the members of the Committee on Water & Land,

____________________________

CINDY EVANS, Chair