STAND. COM. REP. NO. 2247

Honolulu, Hawaii

RE:    S.B. No. 2734

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred S.B. No. 2734 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

     The purpose and intent of this measure is to authorize the issuance of general obligation bonds and the appropriation of funds for deposit into and expenditure from the dwelling unit revolving fund for the development of infrastructure and improvements of on-site and off-site development.

     Your Committee received testimony in support of this measure from the Department of Budget and Finance and Hawaii Housing Finance and Development Corporation.

     Your Committee finds that the dwelling unit revolving fund was established pursuant to Act 105, Session Laws of Hawaii 1970, for the acquisition of real property; development and construction of residential, commercial, and industrial properties; interim and permanent loans to developers; and for the general purposes of the housing development program.  Because there is a serious need to develop affordable housing in Hawaii to meet the needs of individuals and families, it is critical to fund the dwelling unit revolving fund to allow for infrastructure improvements that are needed to develop new affordable housing statewide.

     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. 2734 and recommends that it pass Second Reading and be referred to your Committee on Ways and Means.

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

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BREENE HARIMOTO, Chair