STAND. COM. REP. NO. 1508
Honolulu, Hawaii
, 2013
RE: S.B. No. 1025
H.D. 3
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Seventh State Legislature
Regular Session of 2013
State of Hawaii
Sir:
Your Committee on Finance, to which was referred S.B. No. 1025, H.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO THE HOUSING LOAN AND MORTGAGE PROGRAM,"
begs leave to report as follows:
The purpose of this bill is to update the Hula Mae Single Family Mortgage Loan Program by:
(1) Eliminating certain eligibility criteria to allow more households to participate in accordance with federal law;
(2) Including down payment assistance as a new feature of the program; and
(3) Deleting provisions that relate to inactive programs.
Your Committee has amended this measure by:
(1) Changing its effective date to July 1, 2030, to facilitate further discussion; and
(2) Making technical, nonsubstantive amendments for clarity, consistency, and style.
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. 1025, H.D. 2, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1025, H.D. 3.
Respectfully submitted on behalf of the members of the Committee on Finance,
|
|
____________________________ SYLVIA LUKE, Chair |
|
|
|