STAND. COM. REP. NO. 1189

 

Honolulu, Hawaii

                   

 

RE:     H.B. No. 679

        H.D. 1

        S.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

 

Sir:

 

     Your Committee on Housing, to which was referred H.B. No. 679, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO STATE FUNDS,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to amend the general fund appropriation to the Hawaii Housing Finance and Development Corporation's Rental Housing Revolving Fund under Act 236, Session Laws of Hawaii 2022, to ensure the State meets its American Rescue Plan Act maintenance of effort obligations.

 

     Your Committee received testimony in support of this measure from the Department of Budget and Finance and Hawaii Housing Finance and Development Corporation.

 

     Your Committee finds that Act 236, Session Laws of Hawaii 2022, Section 3, appropriated $300,000,000 for infusion into the Rental Housing Revolving Fund (RHRF).  However, Governor Ige conditioned expenditure of the funds to be after June 30, 2023 to comply with the federal American Rescue Plan Act.  According to testimony received by your Committee, this measure is critical to the Hawaii Housing Finance and Development Corporation's ability to fund the RHRF financing award commitments that were made last year and extends the lapse date to the following fiscal year to further allow for the expenditure of general funds into RHRF to fulfill its financing award commitments and maintain the financial pipeline for affordable housing projects.

 

     Your Committee has amended this measure by:

 

     (1)  Inserting an effective date of July 1, 2050, to encourage further discussion; and

 

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

 

     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 H.B. No. 679, H.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 679, H.D. 1, S.D. 1, and be referred to your Committee on Ways and Means.

 

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

 

 

 

________________________________

STANLEY CHANG, Chair