STAND. COM. REP. NO. 454

Honolulu, Hawaii

, 2019

RE: H.B. No. 959

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 Consumer Protection & Commerce, to which was referred H.B. No. 959, 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 promote permanent affordable homeownership opportunities for first-time homebuyers through non-profit housing entities by authorizing the Hawaii Housing Finance and Development Corporation to provide loans to:

(1) Qualified nonprofit housing trusts for the development, pre-development, construction, acquisition, preservation, and substantial rehabilitation of affordable for-sale housing units; and

(2) Nonprofit housing development corporations to develop affordable for-sale housing projects under a self-help housing program.

This measure also establishes a revolving fund for each of these loan programs.

The Department of Business, Economic Development & Tourism, Hawaii Housing Finance and Development Corporation, Hawai‘i Alliance for Community-Based Economic Development, Hawaiian Community Assets, Hawaii Habitat for Humanity Association, Habitat for Humanity Hawai‘i Island, Hawaii Island HIV/AIDS Foundation, Gentry Homes, Ltd, Building Industry Association of Hawaii, Council for Native Hawaiian Advancement, Housing and Land Enterprise of Maui dba Na Hale o Maui, and O‘ahu County Committee on Legislative Priorities of the Democratic Party of Hawai‘i supported this measure. The Department of Budget and Finance provided comments.

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 959, H.D. 1, and recommends that it be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ROY M. TAKUMI, Chair