STAND. COM. REP. NO.  1646-16

Honolulu, Hawaii

                , 2016

RE:   S.B. No. 2823

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No. 2823 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 set the maximum allowable salary of the Executive Director of the Hawaii Housing Finance and Development Corporation (Corporation) at an amount not to exceed the salary of the Director of Business, Economic Development, and Tourism and to require the Board of Directors of the Corporation to report any salary adjustments of the Executive Director to the Legislature.

The Department of Business, Economic Development, and Tourism and Hawaii Housing Finance and Development Corporation provided testimony in support of the measure.

     Your Committee has amended this measure by 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 S.B. No. 2823, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2823, H.D. 1.

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

____________________________

SYLVIA LUKE, Chair