STAND. COM. REP. NO. 1913

Honolulu, Hawaii

, 2025

RE: S.B. No. 1229

S.D. 2

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 S.B. No. 1229, S.D. 2, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE DWELLING UNIT REVOLVING FUND,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Extend the Dwelling Unit Revolving Fund Equity Pilot Program to June 30, 2030; and

(2) Require the Hawaii Housing Finance and Development Corporation to give a preference to for-sale housing development projects that are developed under governmental assistance programs approved by the Corporation.

Your Committee received testimony in support of this measure from one member of the Maui County Council; Department of Human Resources of the City and County of Honolulu; Hawaiʻi Community Foundation; Holomua Collaborative; Maui Chamber of Commerce; and Hawaii Appleseed Center for Law & Economic Justice. 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 S.B. No. 1229, 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,

____________________________

KYLE T. YAMASHITA, Chair