CONFERENCE COMMITTEE REP. NO. 105-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 1760

H.D. 1

S.D. 1

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 1760, H.D. 1, S.D. 1, entitled:

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

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to:

(1) Authorize the Hawaii Housing Finance and Development Corporation, or a county pursuant to a cooperative agreement, to establish a bond volume cap recycling program;

(2) Authorize the Hawaii Housing Finance and Development Corporation, subject to legislative approval, to secure a line of credit or other instrument of indebtedness to meet federal requirements for the bond volume cap recycling program;

(3) Require a county or issuer to submit a report to the Department of Budget and Finance and Hawaii Housing Finance and Development Corporation on the status or use of its portion of the volume cap that is being recycled;

(4) Establish a bond volume cap recycling program subaccount in the Rental Housing Revolving Fund; and

(5) Provide legislative authorization for the Hawaii Housing Finance and Development Corporation to secure a line of credit or other instrument of indebtedness during the 2023-2025 fiscal biennium not to exceed $150,000,000.

Your Committee on Conference has amended this measure by:

(1) Deleting language that would have codified in the Hawaii Revised Statutes a statutory cap of $150,000,000 for the total amount of the line of credit or other indebtedness that the Hawaii Housing Finance and Development Corporation may secure;

(2) Changing the effective date to July 1, 2024; and

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

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 1760, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 1760, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ TROY N. HASHIMOTO Chair	____________________________ LUKE A. EVSLIN Co-Chair
	____________________________ MICAH AIU Co-Chair