STAND. COM. REP. NO.
Honolulu, Hawaii
MAR 2 8 2024
RE: S.R. No. 33
S. D. 1
Honorable Ronald D. Kouchi
President of the Senate
Thirty-Second State Legislature
Regular Session of 2024
State of Hawaii
Sir:
Your Committee on Housing, to which was referred S.R. No. 33
entitled:
"SENATE RESOLUTION URGING THE DIRECTOR OF FINANCE TO ADOPT
ADMINISTRATIVE RULES TO DEFINE "BENEFICIAL EFFECTS TO THE
STATE" IN SECTION 38-2, HAWAII REVISED STATUTES, TO INCLUDE
THE FINANCING OF HOUSING,"
begs leave to report as follows:
The purpose and intent of this measure is to urge the
Director of Finance to adopt administrative rules to define
"beneficial effects to the State" in section 38-2, Hawaii Revised
Statutes, to include the financing of housing.
Your Committee received testimony in support of this measure
from the Hawaii Housing Finance and Development Corporation.
Your Committee finds that the State must expand financing
options to increase housing in Hawaii. Your Committee also finds
that the Director of Finance is granted the discretion to invest
the public treasury with certain depositaries, subject to the
approval of the Governor and certain statutory requirements found
in section 38-2, Hawaii Revised Statutes, including the
requirement to "consider the beneficial effects to the State of
using depositories within the State". Therefore, this measure
supports incentivizing state treasury depositories that have
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 STAND. COM. REP. NO.
Page 2
issued loans with favorable terms to housing developers to help
expand the State's housing supply.
Your Committee has amended this measure by making technical,
nonsubstantive amendments for the purposes of clarity and
consistency.
As affirmed by the record of votes of the members of your
Committee on Housing that is attached to this report, your
Committee concurs with the intent and purpose of S.R. No. 33, as
amended herein, and recommends its adoption in the form attached
hereto as S.R. No. 33, S.D. 1.
Respectfully submitted on
behalf of the members of the
Committee on Housing,
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 The Senate
Thirty-Second Legislature
State of Hawai‘i
Record of Votes
Committee on Housing
HOU
Bill / Resolution No.:* Committee Referral: Date:
rtou
The Committee is reconsidering its previous decision on this measure.
If so, then the previous decision was to:___________________________________
The Recommendation is:
Pass, unamended ’^Pass, with amendments __ Hold __ Recommit
2312 2311 2310 2313
Members Aye Aye (WR) Nay Excused
CHANG, Stanley (C)
HASHIMOTO, Troy N. (VC)
AQUINO, Henry J.C.
KANUHA, Dru Mamo
AWA, Brenton
TOTAL 1
Recommendation:
[_Jx^opted __ Not Adopted
Chair’s or Designee’s Signature: AO zi I
O"—-
Distribution; Original Yellow Pink Goldenrod
File with Committee Report Clerk's Office Drafting Agency Committee File Copy
*Only one measure per Record of Votes
Revised: 12/27/23