STAND. COM. REP. 2237

Honolulu, Hawaii

, 2004

RE: S.B. No. 2926

 

 

Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection and Housing, to which was referred S.B. No. 2926 entitled:

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

begs leave to report as follows:

The purpose of this measure is to increase the bond authorization amount for tax exempt revenue bonds in order to finance the development or renovation of affordable rental housing projects.

The Housing and Community Development Corporation of Hawaii and the City and County of Honolulu testified in support of the measure.

Your Committee finds that increasing the bond authorization amount would enable the Hula Mae Multi-Family Housing Program to move forward with necessary construction and renovation of affordable housing projects. Increased construction and renovation of housing units will help to alleviate the severe shortage of affordable housing throughout the State.

As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2926 and recommends that it pass Second Reading and be referred to the Committee on Ways and Means.

Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,

____________________________

RON MENOR, Chair