STAND. COM. REP. NO. 1794

Honolulu, Hawaii

RE: H.B. No. 992

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 Ways and Means, to which was referred H.B. No. 992, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE AFFORDABLE HOMEOWNERSHIP REVOLVING FUND,"

begs leave to report as follows:

The purpose and intent of this measure is to clarify that certain moneys appropriated pursuant to Act 88, Session Laws of Hawaii 2021, as amended by Act 248, Session Laws of Hawaii 2022, shall be deposited into the affordable homeownership revolving fund for the purposes for which the revolving fund was established.

Your Committee received written comments in support of this measure from the Department of Business, Economic Development, and Tourism; Hawaii Housing Finance and Development Corporation; and Hawaii Habitat for Humanity Association.

Your Committee finds that clarifying the appropriation made in section 6.4 of Act 88, Session Laws of Hawaii 2021, as amended by Act 248, Session Laws of Hawaii 2022, will ensure that certain loan repayments are deposited into the affordable homeownership revolving fund rather than the general fund.

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 H.B. No. 992, H.D. 1, 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