STAND. COM. REP. NO.  1001-14

Honolulu, Hawaii

                , 2014

RE:   S.B. No. 2337

      S.D. 1

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2014

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred S.B. No. 2337, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO LOW-INCOME HOUSING,"

begs leave to report as follows:

The purpose of this measure is to address the need for more affordable housing in Hawaii by providing funding for the low-income housing credit loan program through revenues derived from the issuance of general obligation bonds.

The Hawaii Housing Finance and Development Corporation, General Contractors Association of Hawaii, Pacific Resource Partnership, Hawai‘i Primary Care Association, Hawai‘i Association of Realtors, Community Alliance for Mental Health, United Self Help, and Sky Ohana supported this measure.  The Department of Budget and Finance provided comments on this measure.

     Your Committee has amended this measure by:

(1)  Specifying that $7,800,000 in general obligation bonds may be issued to fund low-income housing tax credit loans; and

(2)  Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2337, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 2337, S.D. 1, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Housing,

____________________________

MARK J. HASHEM, Chair