STAND. COM. REP. NO. 98-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 2357

H.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Housing, to which was referred H.B. No. 2357 entitled:

"A BILL FOR AN ACT RELATING TO THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION,"

begs leave to report as follows:

The purpose of this measure is to repeal the Homebuyers' Club Program under the Hawaii Housing Finance and Development Corporation.

Your Committee received testimony in support of this measure from the Department of Business, Economic Development, and Tourism; and Hawaii Housing Finance and Development Corporation.

Your Committee finds that the Homebuyers' Club Program was established in 1993, before the United States Department of Housing and Urban Development-approved nonprofit housing counseling agencies were established statewide. Your Committee further finds that these nonprofit housing counseling agencies provide homeownership counseling to first-time homebuyers more cost-effectively, thereby making this program obsolete.

Your Committee has amended this measure by changing the effective date to July 1, 3000, to encourage further discussion.

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. 2357, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2357, H.D. 1, and be referred to your Committee on Finance.

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

____________________________

LUKE A. EVSLIN, Chair