STAND. COM. REP. NO. 988________

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 706
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
706, H.D. 2, entitled: 

     "A BILL FOR AN ACT RELATING TO HOMESTEAD LEASES,"

begs leave to report as follows:

     The purpose of this bill is to assist homestead lessees to
obtain mortgages to improve their leaseholds by allowing for the
suspension of the succession provision in homestead leases for
the duration of a mortgage on an existing lease.

     The Department of Land and Natural Resources testified in
support of the measure.

     The Office of Hawaiian Affairs commented on the measure.

     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.
706, H.D. 2, and recommends that it pass Third Reading.


 
 
 
 
 
 
 
 
 
 
                                 STAND. COM. REP. NO. 988________
                                 Page 2

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



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair