STAND. COM. REP. NO. 856

Honolulu, Hawaii

RE: S.B. No. 7

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 7 entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose and intent of this measure is to increase opportunities for the development of affordable housing in the State.

Specifically, this measure gives the Hawaii Housing Finance and Development Corporation the right of first refusal on any transfer of a property interest on state lands within a one-half mile radius of a rail transit station, excluding any lands owned or controlled by the Hawaii Public Housing Authority or Department of Hawaiian Home Lands.

Your Committee received written comments on this measure from the Hawaii Housing Finance and Development Corporation and Hawaii Public Housing Authority.

Your Committee finds that there is a severe shortage of affordable housing in the State. Your Committee further finds that providing the Hawaii Housing Finance and Development Corporation with the opportunity to obtain control of and develop affordable housing on state lands near rail transit stations will help to increase the State's inventory of affordable housing.

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

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 7, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 7, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair