STAND. COM. REP. NO.  853-14

Honolulu, Hawaii

                , 2014

RE:   H.B. No. 2250

      H.D. 2

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 2250, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose of this measure is to provide the Board of Directors of the Hawaii Housing Finance and Development Corporation greater flexibility in setting the salary of its Executive Director by:

     (1)  Removing the limitation that the salary of the Executive Director not exceed 85 percent of the salary of the Director of Human Resources Development;

     (2)  Authorizing the Board to alter the Executive Director's benefits package in exchange for a salary that exceeds the salary level of civil service employees who receive benefits under Chapter 76, Hawaii Revised Statutes; and

     (3)  Requiring the Board to report each adjustment of the Executive Director's salary to the Legislature.

The Hawaii Housing Finance and Development Corporation and Department of Business, Economic Development and Tourism testified in support of this measure.

     Your Committee has amended this measure by:

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

     (2)  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. 2250, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2250, H.D. 2.

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

____________________________

SYLVIA LUKE, Chair