STAND. COM. REP. NO. 1118

Honolulu, Hawaii

, 2025

RE: H.B. No. 417

H.D. 1

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madame:

Your Committee on Finance, to which was referred H.B. No. 417, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE RENTAL HOUSING REVOLVING FUND,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Establish a Housing Efficiency and Innovation Subaccount within the Rental Housing Revolving Fund to be used for providing loans or credit enhancements to certain projects on state or county-owned land and state-funded housing projects; and

(2) Authorize the Hawaii Housing Finance and Development Corporation to transfer funds between the Housing Efficiency and Innovation Subaccount and the Rental Housing Revolving Fund without legislative approval.

Your Committee received testimony in support of this measure from Hawaiʻi Children's Action Network Speaks!; Holomua Collaborative; Title Guaranty of Hawaiʻi; HPM Building Supply; Hawaiʻi Gas; Mana Up; Tori Richard, Ltd.; and Church of the Crossroads. Your Committee received comments on this measure from the Department of Budget and Finance and 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. 417, 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