STAND. COM. REP. NO. 522

Honolulu, Hawaii

RE: S.B. No. 1061

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Housing, to which was referred S.B. No. 1061 entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose and intent of this measure is to repeal the Down Payment Loan Assistance Program and the Homebuyers' Club Program.

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

Your Committee finds that the Down Payment Loan Assistance Program, established in 1995, and the Homebuyers' Club Program, established in 1993, are old, obsolete, and not cost-effective. Moreover, these programs are not necessary since there are other programs that accomplish the same goals and are being successfully operated by non-profit entities and financial institutions. This measure repeals both programs.

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 S.B. No. 1061 and recommends that it pass Second Reading and be referred to your Committee on Judiciary.

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

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STANLEY CHANG, Chair