STAND. COM. REP. NO. 314-00

                                 Honolulu, Hawaii
                                                   , 2000

                                 RE: H.B. No. 2505
                                     




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Judiciary and Hawaiian Affairs, to which
was referred H.B. No. 2505 entitled: 

     "A BILL FOR AN ACT RELATING TO HOUSING LOAN AND MORTGAGE
     PROGRAMS,"

begs leave to report as follows:

     The purpose of this measure is to clarify that the Housing
and Community Development Corporation of Hawaii and mortgage
lenders contracted to provide mortgage financing are authorized
to provide project-based Hula Mae funds for developments on
Hawaiian home lands.

     Testimony in support of this bill was provided by the
Department of Hawaiian Home Lands.  Testimony in support of the
intent of this bill was provided by the Housing and Community
Development Corporation of Hawaii and the State Council of
Hawaiian Homestead Associations.

     Your Committee finds this measure will eliminate uncertainty
as to whether Hula Mae mortgage funds can be set aside for
housing projects on Hawaiian home lands.

     As affirmed by the record of votes of the members of your
Committee on Judiciary and Hawaiian Affairs that is attached to
this report, your Committee is in accord with the intent and
purpose of H.B. No. 2505 and recommends that it pass Second
Reading and be referred to the Committee on Finance.


 
 
                                 STAND. COM. REP. NO. 314-00
                                 Page 2

 
                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Judiciary &
                                   Hawaiian Affairs,



                                   ______________________________
                                   ERIC G. HAMAKAWA, Chair