STAND. COM. REP. NO. 265

Honolulu, Hawaii

, 2019

RE: H.B. No. 1142

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Housing, to which was referred H.B. No. 1142 entitled:

"A BILL FOR AN ACT RELATING TO THE HOUSING LOAN AND MORTGAGE PROGRAM,"

begs leave to report as follows:

The purpose of this measure is to assist residents in obtaining affordable rental housing by increasing the Hula Mae multifamily revenue bond authorization from $1,500,000,000 to $2,500,000,000.

The Hawaii Housing Finance and Development Corporation, Land Use Research Foundation of Hawaii, and O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i submitted testimony in support of this measure.

Your Committee has amended this measure by:

(1) Changing the amount of the increase to the Hula Mae multifamily revenue bond authorization to an unspecified amount;

(2) Changing its effective date to January 1, 2050, to promote further discussion; and

(3) 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. 1142, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1142, 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