STAND. COM. REP. NO. 1129

Honolulu, Hawaii

, 2025

RE: H.B. No. 1009

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. 1009, 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) Make the Dwelling Unit Revolving Fund Equity Pilot Program a permanent program codified in Hawaii Revised Statutes; and

(2) Allow partial or full repayment of Dwelling Unit Revolving Fund interim loans by eligible developers in the form of unit equity through the Dwelling Unit Revolving Fund Equity Program.

Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism; 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. 1009, 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