STAND. COM. REP. NO. 715-24

Honolulu, Hawaii

, 2024

RE: H.B. No. 2801

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 Finance, to which was referred H.B. No. 2801, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO COMMERCIAL PROPERTY ASSESSED FINANCING,"

begs leave to report as follows:

The purpose of this measure is to allow condominiums to be eligible for commercial property assessed financing.

Your Committee received testimony in support of this measure from the Hawaiʻi Green Infrastructure Authority; Hawaiʻi State Energy Office; Office of Planning and Sustainable Development; Honolulu Board of Water Supply; Petros PACE Finance, LLC; Island Insurance Companies; Association of Apartment Owners at Pat's at Punaluʻu; Hawaii Legislative Action Committee Community Associations Institute; Hawaiʻi Energy; AARP Hawaiʻi; Hawaiʻi Association of REALTORS; C-PACE Alliance, Inc.; Nuveen Green Capital; Hawaii Solar Energy Association; Holomua Collaborative; Ulupono Initiative; aio; Hawaiʻi Gas; HPM Building Supply; Hawaii Venture Capital Association; Tori Richard, Ltd.; Mana Up; PACE Loan Group; and six individuals. Your Committee received comments on this measure from the Department of Commerce and Consumer Affairs; Hawaii Insurers Council; Mortgage Bankers Association of Hawaii; and Hawaii Credit Union League.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2801, H.D. 1, and recommends that it pass Third Reading.

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

____________________________

KYLE T. YAMASHITA, Chair