STAND. COM. REP. NO. 789
RE: H.B. No. 58
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Finance, to which was referred H.B. No. 58, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO STATE FUNDS,"
begs leave to report as follows:
(1) Temporarily reallocating conveyance tax revenues to pay the principal and interest of general obligation bonds; and
(2) Authorizing the issuance of general obligation bonds to be appropriated into and out of the Land Conservation Fund and Rental Housing Revolving Fund.
Your Committee received testimony in support of this measure from the Hawaii Housing Finance and Development Corporation. Your Committee received testimony in opposition to this measure from the Trust for Public Land, Kua‘āina Ulu ‘Auamo, Conservation Council for Hawai‘i, Nā Kālai Wa‘a, Hawai‘i Land Trust, Livable Hawaii Kai Hui, Maunalua Fishpond Heritage Center, Hi‘ipaka LLC, and two individuals. Your Committee received comments on this measure from the Department of Land and Natural Resources, Department of Budget and Finance, and Tax Foundation of Hawaii.
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 H.B. No. 58, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
SYLVIA LUKE, Chair