CONFERENCE COMMITTEE REP. NO. 98

 

Honolulu, Hawaii

                 , 2017

 

RE:    S.B. No. 911

       S.D. 1

       H.D. 1

       C.D. 1

 

 

 

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

 

Sirs:

 

     Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 911, S.D. 1, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE HOUSING LOAN AND MORTGAGE PROGRAM,"

 

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

 

     The purpose and intent of this measure is to provide additional financing assistance for affordable rental housing projects under the Housing Loan and Mortgage Program, popularly known as the Hula Mae Multifamily Program.

 

More specifically, this measure increases the Hula Mae Multifamily Revenue Bond authorization amount from $1,000,000,000 to an unspecified amount and requires the Hawaii Housing Finance and Development Corporation to submit annual reports to the Legislature describing the multifamily revenue bond activity under section 201H-95, Hawaii Revised Statutes.

 

     Your Committee on Conference finds that the affordable housing crisis continues to be one of the State's most significant and challenging social problems and is a critical issue for many Hawaii residents.  Your Committee on Conference believes that as the cost of housing increases, the State must continue to assist residents in obtaining affordable rental housing.  Increasing the Hawaii Housing Finance and Development Corporation's revenue bond authorization will allow the corporation to provide additional financing assistance for affordable rental housing projects under the Housing Loan and Mortgage Program.

 

     Your Committee on Conference has amended this measure by changing the bond authorization cap amount from an unspecified amount to $1,500,000,000.

 

     As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 911, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 911, S.D. 1, H.D. 1, C.D. 1.

 

Respectfully submitted on behalf of the managers:

 

ON THE PART OF THE HOUSE

 

ON THE PART OF THE SENATE

 

____________________________

TOM BROWER

Co-Chair

 

____________________________

JILL N. TOKUDA

Chair

____________________________

NADINE K. NAKAMURA

Co-Chair