Bill Text: HI SB752 | 2010 | Regular Session | Amended

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Bill Title: Self-Help Housing; Trust Fund; Conveyance Tax

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-05-11 - Carried over to 2010 Regular Session. [SB752 Detail]

Download: Hawaii-2010-SB752-Amended.html

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STAND. COM. REP. NO. 54

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 752

       S.D. 1

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Madam:

 

     Your Committee on Education and Housing, to which was referred S.B. No. 752 entitled:

 

"A BILL FOR AN ACT RELATING TO SELF-HELP HOUSING,"

 

begs leave to report as follows:

 

     The purpose of this measure is to establish a dedicated source of funding for self-help housing by establishing a self‑help housing trust fund with moneys collected pursuant to the conveyance tax.

 

     Testimony in support of this measure was submitted by two county agencies and two private organizations.  Testimony in opposition was submitted by one state agency.  Two private organizations submitted comments.

 

     Your Committee finds that self-help homes are the most economically feasible option for low and very low income families to become homeowners in Hawaii.  For example, the Hilo Habitat program produced three-bedroom, two-bath homes with solar hot water and a computer for $85,000 last year.  Self-help technical assistance would add $20,000 per home, but even with this addition, a family's monthly payments for a self-help home are often less than what many families must pay to rent in Hawaii.

 

     Your Committee further finds that turning families from renters to owners creates hope, which is critical during these difficult economic times, and also contributes to more stable and sustainable communities.

Your Committee believes this measure will help to address the scarcity of loan financing and technical assistance funding necessary to expand opportunities for self-help housing in Hawaii.

 

     Your Committee has amended this measure by making a technical, nonsubstantive amendment.

 

     As affirmed by the record of votes of the members of your Committee on Education and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 752, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 752, S.D. 1, and be referred to the Committee on Ways and Means.

 

Respectfully submitted on behalf of the members of the Committee on Education and Housing,

 

		____________________________ NORMAN SAKAMOTO, Chair