STAND. COM. REP. NO. 3389

Honolulu, Hawaii

RE: S.R. No. 47

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Housing, to which was referred S.R. No. 47 entitled:

"SENATE RESOLUTION URGING THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION TO ADOPT ADMINISTRATIVE RULES TO CREATE A PROCESS UNDER SECTION 201H-38, HAWAII REVISED STATUTES, FOR HOUSING PROJECTS EXCLUSIVELY FOR SALE OR RENT TO QUALIFIED RESIDENTS AS DEFINED IN SECTION 201H-32, HAWAII REVISED STATUTES, WHO ARE DEEMED TO BE MODERATE INCOME HOUSEHOLDS,"

begs leave to report as follows:

The purpose and intent of this measure is to urge the Hawaii Housing Finance and Development Corporation to adopt administrative rules to create a process under section 201H-38, Hawaii Revised Statutes, for housing projects exclusively for sale or rent to qualified residents as defined in section 201H-32, Hawaii Revised Statutes, who are deemed to be moderate-income households.

Your Committee received testimony in support of this measure from one individual.

Your Committee received comments on this measure from the Hawaii Housing Finance and Development Corporation.

Your Committee finds that the Hawaii Housing Finance and Development Corporation is tasked with overseeing affordable housing projects in the State through the development and financing of low- and moderate-income housing projects and homeownership programs. Your Committee further finds that pursuant to existing administrative rules, the Hawaii Housing Finance and Development Corporation requires certain housing projects to offer half of the available units to buyers whose income is at or below one hundred forty percent of the area median income. Your Committee also finds that residential units at all price points are needed to solve Hawaii's chronic housing shortage. Therefore, this measure seeks to create an additional pathway for a project to qualify for expedited review to help quickly increase Hawaii's housing supply.

Your Committee has amended this measure by 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 concurs with the intent and purpose of S.R. No. 47, as amended herein, and recommends its adoption in the form attached hereto as S.R. No. 47, S.D. 1.

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

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STANLEY CHANG, Chair