Bill Text: HI HB1063 | 2012 | Regular Session | Amended
Bill Title: Loans made to Hawaiian Home Lands lessees
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Enrolled - Dead) 2012-04-13 - (H) Received notice of all Senate conferees being discharged (Sen. Com. No. 747). [HB1063 Detail]
Download: Hawaii-2012-HB1063-Amended.html
STAND. COM. REP. NO. 1177
Honolulu, Hawaii
RE: H.B. No. 1063
H.D. 1
S.D. 1
Honorable Shan S. Tsutsui
President of the Senate
Twenty-Sixth State Legislature
Regular Session of 2011
State of Hawaii
Sir:
Your Committee on Ways and Means, to which was referred H.B. No. 1063, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO THE HAWAIIAN HOMES COMMISSION ACT, 1920, AS AMENDED,"
begs leave to report as follows:
The purpose and intent of this measure is to augment the Department of Hawaiian Home Lands' ability to award homesteads and home ownership opportunities to its beneficiaries by increasing the State's limit of liability for Department of Hawaiian Home Land guarantees of loans to lessees from $50,000,000 to an unspecified amount.
Your Committee received written comments in support of this measure from Kalbert K. Young, Director, Department of Budget and Finance.
Your Committee finds that since Hawaiian home lands are inalienable, the Department of Hawaiian Home Lands is required to guarantee mortgage loans made for homes located on Hawaiian home lands when lenders do not have a loan assurance program. This measure will help the Department provide more home ownership opportunities to beneficiaries, allow more construction of affordable units, and benefit Hawaii's construction industry and economy.
Your Committee has amended this measure by changing the effective date to July 1, 2117, to facilitate further discussion on the measure.
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. 1063, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1063, H.D. 1, S.D. 1.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
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____________________________ DAVID Y. IGE, Chair |
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