STAND. COM. REP. NO.  926

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 Finance, to which was referred H.B. No. 1550, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HOMEOWNERSHIP,"

begs leave to report as follows:

The purpose of this measure is to:

     (1)  Establish within the Hawaii Public Housing Authority (Authority) a Section 8 Voucher Homebuyer Assistance Program (Program) for recipients of federal Section 8 Housing Choice vouchers who are first-time homebuyers;

     (2)  Establish a Section 8 Voucher Homebuyer Assistance Program Special Fund for the Program;

     (3)  Authorize the Authority to make downpayment loans to eligible borrowers;

     (4)  Authorize the issuance of revenue bonds and appropriate funds to establish and implement the Program; and

     (5)  Appropriate funds for the hiring of full-time equivalent positions for the Program.

Ho‘omana Pono, LLC. supported this measure.  The Department of Budget and Finance and Hawaii Public Housing Authority provided comments.

     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 H.B. No. 1550, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair