Report Title:

HHFDC; Home Prices; Report to Legislature

 

Description:

Requires the Hawaii Housing Finance and Development Corporation to submit a report to the 2010 Legislature that includes a list of cost items that impact home prices in Hawaii.

 


HOUSE OF REPRESENTATIVES

H.B. NO.

234

TWENTY-FIFTH LEGISLATURE, 2009

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT


 

 

relating to housing.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  The legislature finds that home prices in Hawaii, due to a variety of cost factors, are at a level beyond the reach of many Hawaii families.

     The purpose of this Act is to require the Hawaii housing finance and development corporation to submit a report to the legislature that includes a list of cost items that impact home prices in Hawaii.

     SECTION 2.  (a)  The Hawaii housing finance and development corporation, together with appropriate state and county agencies and with the assistance of appropriate private-sector businesses, shall develop a list of cost items that impact home prices in Hawaii, particularly those cost items encountered by the Hawaii housing finance and development corporation.

     (b)  The list shall:

     (1)  Not include land or construction costs;

     (2)  Examine the costs prior to construction, such as time delays for permit approval and impact fees levied against home developers;

     (3)  Include material and labor costs directly attributed to the cost of construction; and

     (4)  Include any costs imposed by the state and counties that impact the cost of a finished home.

     (c)  The Hawaii housing finance and development corporation shall recommend how to alleviate these costs to bring the price of a home within reach of the average Hawaii citizen.

     SECTION 3.  The Hawaii housing finance and development corporation shall report its findings, recommendations, and any suggested legislation to the legislature no later than twenty days before the convening of the regular session of 2010.

     SECTION 4.  This Act shall take effect upon its approval.

 

INTRODUCED BY:

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