STAND. COM. REP. NO.  665

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 1550

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred H.B. No. 1550 entitled:

"A BILL FOR AN ACT RELATING TO HOMEOWNERSHIP,"

begs leave to report as follows:

The purpose of this measure is to establish within the Hawaii Housing Finance and Development Corporation the Section 8 Voucher Homebuyer Assistance Program (Program) for recipients of federal Section 8 Housing Choice vouchers who are first-time homebuyers.

One individual testified in support.  Hawaii Housing Finance and Development Corporation testified in opposition.

     Your Committee has amended this measure by:

     (1)  Establishing the Program in the Hawaii Public Housing Authority rather than Hawaii Housing Finance and Development Corporation;

     (2)  Establishing a special fund for the Program;

     (3)  Authorizing the Hawaii Public Housing Authority to make downpayment loans to eligible borrowers;

     (4)  Appropriating funds to hire an unspecified number of full-time equivalent positions for the Program; and

     (5)  Making technical, nonsubstantive amendments for clarity, consistency, and style.

     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 H.B. No. 1550, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1550, H.D. 1, and be referred to your Committee on Finance.

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

____________________________

TOM BROWER, Chair