STAND. COM. REP. NO. 629

Honolulu, Hawaii

, 2019

RE: H.B. No. 477

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committees on Housing and Human Services & Homelessness, to which was referred H.B. No. 477 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

beg leave to report as follows:

The purpose of this measure is to establish a Homeownership Housing Revolving Fund to provide funds for the development of affordable for-sale housing projects by nonprofit housing development organizations under a self-help housing program.

The Building Industry Association of Hawaii, Hawaii Island HIV/AIDS Foundation, Partners in Housing, The Chamber of Commerce Hawaii, Habitat for Humanity Hawai‘i Island, O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i, and an individual submitted testimony in support of this measure. The Hawaii Housing Finance and Development Corporation, Hawaii Habitat for Humanity Association, Hawai‘i Alliance for Community-Based Economic Development, Council for Native Hawaiian Advancement, Hawaiian Community Assets, and an individual offered comments on this measure.

Your Committees have amended this measure by:

(1) Deleting references to terms not suitable for interim and pre-development loans;

(2) Allowing nonprofit community development financial institutions (CDFIs) access to the Homeownership Housing Revolving Fund;

(3) Allowing the use of the Housing Homeownership Revolving Fund by CDFIs as matching funds to leverage funds secured from other sources;

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

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

Your Committees note that Hawaiian Community Assets requested an appropriation of $25,000,000 to the Homeownership Housing Revolving Fund. Your Committees respectfully request that the Committee on Finance consider that amount should it deliberate further on this measure.

As affirmed by the records of votes of the members of your Committees on Housing and Human Services & Homelessness that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 477, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 477, H.D. 1, and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committees on Housing and Human Services & Homelessness,

______________________________ JOY A. SAN BUENAVENTURA, Chair

______________________________ TOM BROWER, Chair