STAND. COM. REP. NO. 2636

Honolulu, Hawaii

RE:    S.B. No. 2823

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Ways and Means, 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 and intent of this measure is to provide flexibility in determining the salary of the Hawaii Housing Finance and Development Corporation's Executive Director.

     More specifically, this measure:

     (1)  Repeals the requirement that the salary of the Hawaii Housing Finance and Development Corporation's Executive Director be not more than eighty-five per cent of the salary of the Director of Human Resources Development;

     (2)  Provides that the salary of the Hawaii Housing Finance and Development Corporation Executive Director shall not exceed the salary of the Director of Business, Economic Development, and Tourism; and

     (3)  Requires the Hawaii Housing Finance and Development Corporation Board of Directors to submit a report to the Legislature regarding the salary of the Executive Director prior to each regular session immediately following each adjustment to the salary.

     Your Committee received written comments in support of this measure from the Department of Business, Economic Development, and Tourism and the Hawaii Housing Finance and Development Corporation.

     Your Committee finds that section 201H-2, Hawaii Revised Statutes, currently limits the Hawaii Housing Finance and Development Corporation Executive Director's salary at not more than eighty-five per cent of the salary of the Director of Human Resources Development.  Providing instead that the Hawaii Housing Finance and Development Corporation Executive Director's salary shall not exceed the salary of the Director of Business, Economic Development, and Tourism will authorize payment of a higher salary to the Hawaii Housing Finance and Development Corporation Executive Director and will thereby help the corporation attract and retain a qualified individual who will lead the corporation toward fulfilling its mission of increasing and preserving the supply of workforce and affordable housing in the State.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2823 and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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JILL N. TOKUDA, Chair