STAND. COM. REP. NO.1234

Honolulu, Hawaii

, 2001

RE: S.B. No. 105

S.D. 1

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 105, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO KIKALA-KEOKEA,"

begs leave to report as follows:

The purpose of this bill is to provide funds for the development of infrastructure, including water infrastructure, at Kikala-Keokea on the island of Hawaii.

Specifically, this bill amends Act 242, Session Laws of Hawaii 1991, to:

(1) Establish an Infrastructure Development Fund (Development Fund) for the development of infrastructure at Kikala-Keokea;

(2) Establish the Kikala-Keokea Housing Revolving Fund (Revolving Fund) to provide low interest loans for home construction for Kikala-Keokea leaseholders who have been denied loans;

(3) Transfer unexpended or unencumbered funds remaining in the Development Fund on June 30, 2002, to the Revolving Fund; provided that funding commitments to complete the design and construction of infrastructure improvements must first be executed; and

(4) Appropriate moneys from both funds.

The Office of Hawaiian Affairs (OHA), Mayor of the County of Hawaii, and Hawaii County Economic Opportunity Council submitted testimony in support of this bill. The Housing and Community Development Corporation of Hawaii submitted testimony in support of the intent of this bill. The Department of Land and Natural Resources submitted comments.

Your Committee has amended this bill by:

    1. Deleting all amendments made to Act 242, SLH 1991;
    2. Establishing the Development Fund and Revolving Fund statutorily, instead of temporarily establishing them in Act 242, SLH 1991;
    3. Requiring that interest on loans made under the Revolving Fund not exceed three percent and may be used for administrative costs;
    4. Transferring unexpended or unencumbered funds remaining in the Development Fund on June 30, 2003, to the Revolving Fund;
    5. Appropriating $1,750,000 from the Development Fund for infrastructure development at the Kikala-Keokea subdivision, to be matched by OHA; and
    6. Making numerous technical, nonsubstantive amendments to correct drafting errors.

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 S.B. No. 105, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 105, S.D. 1, H.D. 1, and be placed on the calendar for Third Reading.

 

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

____________________________

DWIGHT Y. TAKAMINE, Chair