STAND. COM. REP. NO. 729
RE: S.B. No. 1190
Honorable Ronald D. Kouchi
President of the Senate
Thirtieth State Legislature
Regular Session of 2019
State of Hawaii
Your Committee on Ways and Means, to which was referred S.B. No. 1190, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO LEASEHOLD CONDOMINIUMS ON LANDS CONTROLLED BY THE STATE,"
begs leave to report as follows:
The purpose and intent of this measure is to authorize the Hawaii Housing Finance and Development Corporation to enter into seventy-five year leases for units in residential condominiums located on state lands.
Your Committee received written comments on this measure from the Department of Business, Economic Development, and Tourism; Hawaii Housing Finance and Development Corporation; and Land Use Research Foundation of Hawaii.
Your Committee finds that this measure will facilitate the development of affordable residential condominiums for low-income individuals and families in Hawaii.
Your Committee has amended this measure by:
(1) Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and
(2) Making technical nonsubstantive changes for purposes of clarity, consistency, and style.
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 S.B. No. 1190, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1190, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
DONOVAN M. DELA CRUZ, Chair