STAND. COM. REP. NO. 690

Honolulu, Hawaii

, 2021

RE: H.B. No. 79

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 79, 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 support affordable housing in Hawaii by:

(1) Establishing an Affordable Homeownership Revolving Fund within the Hawaii Housing Finance and Development Corporation to provide loans to nonprofit community development financial institutions and nonprofit housing development organizations for the development of affordable homeownership housing projects;

(2) Authorizing the transfer of taxable general obligation bond proceeds and accrued interest from the Rental Housing Revolving Fund to the Affordable Homeownership Revolving Fund; and

(3) Appropriating funds out of the Affordable Homeownership Revolving Fund.

Your Committee received testimony in support of this measure from Hope Services Hawaii; Habitat for Humanity Hawaii Island, Inc.; Maui Chamber of Commerce; and seven individuals. Your Committee received comments on 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 H.B. No. 79, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

SYLVIA LUKE, Chair