CONFERENCE COMMITTEE REP. NO. 102-22

Honolulu, Hawaii

, 2022

RE: S.B. No. 3048

S.D. 2

H.D. 1

C.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 3048, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO STATE FUNDS,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to:

(1) Authorize the Director of Finance to transfer excess funds from the Rental Housing Revolving Fund to the Dwelling Unit Revolving Fund;

(2) Provide that the Rental Housing Revolving Fund may be used for the Hawaii Housing Finance and Development Corporation's housing finance programs;

(3) Establish two full-time equivalent (2.0 FTE) housing finance specialist positions; and

(4) Appropriate funds to the Hawaii Housing Finance and Development Corporation for computer software and hardware; information technology improvements; videoconferencing improvements; and scanning and digitization equipment, services, and warranties.

Your Committee on Conference finds that the Hawaii Housing Finance and Development Corporation has funds composed of tax-exempt general obligation bond proceeds and accrued interest within the Rental Housing Revolving Fund that are restricted and cannot be used for the purposes of that fund. However, those funds can be used for public infrastructure development, which is one of the purposes for which funds within the Dwelling Unit Revolving Fund can be used. Accordingly, this measure transfers tax-exempt general obligation bond funds and accrued interest from the Rental Housing Revolving Fund to the Dwelling Unit Revolving Fund.

Your Committee on Conference has amended this measure by:

(1) Clarifying that the Director of Finance is authorized to transfer tax-exempt general obligation bond proceeds from the Rental Housing Revolving Fund to the Dwelling Unit Revolving Fund in an amount of $45,000,000;

(2) Inserting appropriations of $300,000,000 into and out of the Rental Housing Revolving Fund; provided that $150,000,000 is used for mixed-income housing projects;

(3) Inserting an appropriation amount of $554,000 for the Hawaii Housing Finance and Development Corporation to procure computer software and hardware; information technology improvements; videoconferencing improvements; and scanning and digitization equipment, services, and warranties;

(4) Adding a severability clause; and

(5) Making technical, nonsubstantive amendments for the purposes of clarity and consistency.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 3048, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 3048, S.D. 2, H.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE HOUSE

ON THE PART OF THE SENATE

____________________________ NADINE K. NAKAMURA Co-Chair	____________________________ STANLEY CHANG Chair
____________________________ KYLE T. YAMASHITA Co-Chair	____________________________ DRU KANUHA Co-Chair