STAND. COM. REP. NO.  1625

 

Honolulu, Hawaii

                , 2009

 

RE:   S.B. No. 862

      S.D. 2

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred S.B. No. 862, S.D. 2, entitled:

 

"A BILL FOR AN ACT RELATING TO HOUSING,"

 

begs leave to report as follows:

 

     The purpose of this bill is to assist the Hawaii Housing Finance and Development Corporation (HHFDC) in its collection of the amounts owing to it under shared appreciation equity and other liens when the property is sold or foreclosed upon.  To further facilitate collection, this bill also requires HHFDC to receive written notice of an intent to foreclose 45 days prior to commencement of the foreclosure proceedings.

 

     The Office of Hawaiian Affairs and HHFDC supported this bill.

 

     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. 862, S.D. 2, and recommends that it pass Third Reading.

 

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

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair