STAND. COM. REP. NO. 1076

Honolulu, Hawaii

RE: S.B. No. 878

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sir:

Your Committee on Ways and Means, to which was referred S.B. No. 878, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO HOUSING,"

begs leave to report as follows:

The purpose and intent of this measure is to establish a revolving fund for the Hawaii Housing Finance and Development Corporation to provide loans to qualified nonprofit housing trusts and nonprofit community development financial institutions for the development of affordable housing units.

This measure also appropriates and deposits general funds to the revolving fund to implement the loan program.

Your Committee received written comments in support of this measure from the Hawaii Housing Finance and Development Corporation, Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii, Hawaiian Community Assets, Hawaii Habitat for Humanity Association, Inc., and two individuals.

Your Committee received written comments on this measure from the Department of Budget and Finance.

Your Committee finds that the loan program created in this measure could provide our community's low-income families with a chance to reap the benefits of homeownership.

As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 878, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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DONOVAN M. DELA CRUZ, Chair