STAND. COM. REP. NO. 263

Honolulu, Hawaii

, 2021

RE: H.B. No. 907

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Housing, to which was referred H.B. No. 907 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose of this measure is to repeal the Hawaii Housing Finance and Development Corporation's Downpayment Loan Assistance Program and Homebuyers' Club Program.

Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism and Hawaii Housing Finance and Development Corporation.

Your Committee notes that this measure repeals two inactive and obsolete programs of the Hawaii Housing Finance and Development Corporation. The Downpayment Loan Assistance Program and Homebuyers' Club Program are neither cost effective or necessary since there are similar types of programs currently being operated by non-profit entities and financial institutions.

Your Committee has amended this measure by changing the effective date to July 1, 2050, to encourage further discussion.

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. 907, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 907, H.D. 1, and be referred to your Committee on Finance.

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

____________________________

NADINE K. NAKAMURA, Chair