STAND. COM. REP. NO. 848

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 Committee on Finance, to which was referred H.B. No. 477, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose of this measure is to establish a Homeownership Housing Revolving Fund within the Hawaii Housing Finance and Development Corporation (HHFDC) to provide loans to nonprofit housing development organizations and community development financial institutions for the development of affordable homeownership housing projects under a self-help housing program.

HHFDC, Mayor of the County of Hawai‘i, Building Industry Association of Hawaii, Partners in Housing, Hawaii Habitat for Humanity Association, Hawaiian Community Assets, O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i, and two individuals testified in support of this measure.

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. 477, 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