STAND. COM. REP. NO. 972

Honolulu, Hawaii

, 2023

RE: H.B. No. 675

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 675, H.D. 1, entitled:

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

begs leave to report as follows:

The purpose of this measure is to require, if sufficient funding is available, the Hawaii Housing Finance and Development Corporation to open at minimum two application periods each year for affordable housing financing from the Low-Income Housing Tax Credit Program, Hula Mae Multi-Family Revenue Bond Program, Rental Housing Revolving Fund Program, and Dwelling Unit Revolving Fund Program.

Your Committee received testimony in support of this measure from EAH Housing, Stanford Carr Development, and one individual. Your Committee received comments on this measure from the Hawaii Housing Finance and Development Corporation.

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 H.B. No. 675, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

KYLE T. YAMASHITA, Chair