STAND. COM. REP. NO. 1976-22

Honolulu, Hawaii

, 2022

RE: S.B. No. 3048

S.D. 2

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2022

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 3048, S.D. 2, H.D. 1, entitled:

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

begs leave to report as follows:

The purpose of this measure is to:

(1) Authorize the Director of Finance to transfer excess tax-exempt general obligation bond proceeds and accrued interest from the Rental Housing Revolving Fund to the Dwelling Unit Revolving Fund;

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

(3) Establish two full-time equivalent housing financial specialist I positions within the Hawaii Housing Finance and Development Corporation; 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 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 received comments on this measure from the Department of Budget and Finance.

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 S.B. No. 3048, S.D. 2, 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