STAND. COM. REP. NO.  926-14

Honolulu, Hawaii

                , 2014

RE:   S.B. No. 2542

      S.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 Housing, to which was referred S.B. No. 2542, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE DISPOSITION OF THE CONVEYANCE TAX COLLECTIONS TO THE RENTAL HOUSING TRUST FUND,"

begs leave to report as follows:

The purpose of this measure is to support the development of affordable rental housing by increasing the share of conveyance tax revenues going to the Rental Housing Trust Fund from 30 percent to 50 percent.

The Hawaii Housing Finance and Development Corporation; Hawai‘i Appleseed Center for Law and Economic Justice; PHOCUSED; Hawaii Catholic Conference; Partners in Care; Catholic Charities Hawaii; Hawai‘i Association of Realtors; Institute for Human Services, Inc.; Community Alliance for Mental Health; United Self Help; and a concerned individual supported this measure.  The Building Industry Association of Hawaii opposed this measure.   The Department of Budget and Finance, Department of Land and Natural Resources, Tax Foundation of Hawaii, and Chamber of Commerce Hawaii provided comments on 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. 2542, S.D. 1, and recommends that it pass Second Reading and be referred to the Committee on Water & Land.

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

____________________________

MARK J. HASHEM, Chair