STAND. COM. REP. NO. 1909

Honolulu, Hawaii

, 2025

RE: S.B. No. 572

S.D. 1

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. 572, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose of this measure is to:

(1) Add loan funds administered by nonprofit community development financial institutions for certain for-sale affordable housing projects to the list of loan priorities for the Affordable Homeownership Revolving Fund; and

(2) Expand the use of Affordable Homeownership Revolving Fund monies to allow financing as matching funds for nonprofit community development financial institutions to mobilize other funding sources.

Your Committee received testimony in support of 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. 572, S.D. 1, 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