STAND. COM. REP. NO. 3300

 

Honolulu, Hawaii

                  

 

RE:    H.B. No. 1306

       H.D. 2

       S.D. 1

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred H.B. No. 1306, H.D. 2, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO HOUSING,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to increase the revenue bond authority for the Hula Mae Multifamily program from $500,000,000 to $750,000,000.

 

     Your Committee received written comments in support of this measure from the Hawaii Housing Finance and Development Corporation and the Pacific Resource Partnership.

 

     Your Committee finds that increasing the revenue bond authority for the Hula Mae Multifamily program will allow the Hawaii Housing Finance and Development Corporation to adequately assist in the future development and preservation of affordable housing in Hawaii, including the current seventeen projects valued at over $500,000,000 and another expected eleven projects worth an estimated $1,500,000,000.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1306, H.D. 2, S.D. 1, and recommends that it pass Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DAVID Y. IGE, Chair