Hawaii 2024 Regular Session

Hawaii Senate Bill SR33 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	THE SENATE S.R. NO. 33 THIRTY-SECOND LEGISLATURE, 2024 ~~S.D. 1~~ STATE OF HAWAII 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.
	1	+	THE SENATE S.R. NO. 33 THIRTY-SECOND LEGISLATURE, 2024 STATE OF HAWAII 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.
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3	3		THE SENATE S.R. NO. 33
4		-	THIRTY-SECOND LEGISLATURE, 2024 ~~S.D. 1~~
	4	+	THIRTY-SECOND LEGISLATURE, 2024
5	5		STATE OF HAWAII
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7	7		THE SENATE
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9	9		S.R. NO.
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11	11		33
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13	13		THIRTY-SECOND LEGISLATURE, 2024
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15		-	~~S.D. 1~~
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17	17		STATE OF HAWAII
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29	29		SENATE RESOLUTION
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35	35		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.
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41		-	WHEREAS, limited supply of housing continues to be a major issue for the State; and WHEREAS, the State must expand financing options to increase housing in Hawaii; and WHEREAS, the moneys collected by the State are held in trust for the benefit of the public and thus decisions related to where and how to invest the public treasury concern matters of public policy; and WHEREAS, 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 requirements to "consider the beneficial effects to the State of using depositories within the State"; and WHEREAS, the State can incentivize depositories to help address and increase the State's housing inventory; and WHEREAS, ~~this body~~ finds that depositaries that have issued loans with favorable terms to housing developers for the benefit of Hawaii residents should be considered to have beneficial effects to the State, as these loans help lower development costs and expand the State's ability to create affordable housing; now, therefore, BE IT RESOLVED by the Senate of the Thirty-second Legislature of the State of Hawaii, Regular Session of 2024, that the Director of Finance is urged to adopt administrative rules to define "beneficial effects to the State" in section 38‑2, Hawaii Revised Statutes, to include the financing of housing; and BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Director of Finance. Report Title: Banks; Loans; Housing; Director of Finance; State Treasury Depository
	41	+	WHEREAS, limited supply of housing continues to be a major issue for the State; and WHEREAS, the State must expand financing options to increase housing in Hawaii; and WHEREAS, the moneys collected by the State are held in trust for the benefit of the public and thus decisions related to where and how to invest the public treasury concern matters of public policy; and WHEREAS, 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 requirements to "consider the beneficial effects to the State of using depositories within the State"; and WHEREAS, the State can incentivize depositories to help address and increase the State's housing inventory; and WHEREAS, the Legislature finds that depositaries that have issued loans with favorable terms to housing developers for the benefit of Hawaii residents should be considered to have beneficial effects to the State, as these loans help lower development costs and expand the State's ability to create affordable housing; now, therefore, BE IT RESOLVED by the Senate of the Thirty-second Legislature of the State of Hawaii, Regular Session of 2024, that the Director of Finance is urged to adopt administrative rules to define "beneficial effects to the State" in section 38-2, Hawaii Revised Statutes, to include the financing of housing; and BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Director of Finance. OFFERED BY: _____________________________ Report Title: Banks; Loans; Housing; Director of Finance; State Treasury Depository
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43	43		WHEREAS, limited supply of housing continues to be a major issue for the State; and
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47	47		WHEREAS, the State must expand financing options to increase housing in Hawaii; and
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51	51		WHEREAS, the moneys collected by the State are held in trust for the benefit of the public and thus decisions related to where and how to invest the public treasury concern matters of public policy; and
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55	55		WHEREAS, 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 requirements to "consider the beneficial effects to the State of using depositories within the State"; and
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59	59		WHEREAS, the State can incentivize depositories to help address and increase the State's housing inventory; and
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63		-	WHEREAS, ~~this body~~ finds that depositaries that have issued loans with favorable terms to housing developers for the benefit of Hawaii residents should be considered to have beneficial effects to the State, as these loans help lower development costs and expand the State's ability to create affordable housing; now, therefore,
	63	+	WHEREAS, the Legislature finds that depositaries that have issued loans with favorable terms to housing developers for the benefit of Hawaii residents should be considered to have beneficial effects to the State, as these loans help lower development costs and expand the State's ability to create affordable housing; now, therefore,
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67		-	BE IT RESOLVED by the Senate of the Thirty-second Legislature of the State of Hawaii, Regular Session of 2024, that the Director of Finance is urged to adopt administrative rules to define "beneficial effects to the State" in section 38‑2, Hawaii Revised Statutes, to include the financing of housing; and
	67	+	BE IT RESOLVED by the Senate of the Thirty-second Legislature of the State of Hawaii, Regular Session of 2024, that the Director of Finance is urged to adopt administrative rules to define "beneficial effects to the State" in section 38-2, Hawaii Revised Statutes, to include the financing of housing; and
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71	71		BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Director of Finance.
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	79	+	OFFERED BY: _____________________________
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	83	+	OFFERED BY:
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	85	+	_____________________________
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77	141		Report Title:
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79	143		Banks; Loans; Housing; Director of Finance; State Treasury Depository